Tax Deductions on Select Lexus Vehicles

Welcome to Scanlon Lexus of Fort Myers, where we offer an exceptional fleet of luxury vehicles and help our esteemed customers save money with available Tax Deductions.

* Please note we recommend consulting a tax or accounting professional before making any purchase decision using the Section 179 Tax Deduction.

Are you the owner of a Southwest Florida business looking at buying a new vehicle? If so, you should be aware of the Section 179 Tax Deduction, a potential benefit for you and your enterprise this year*. Scanlon Lexus offers a diverse range of luxury SUVs that are perfect for your business needs whether you’re from Bonita Springs, Naples, Cape Coral, Estero, Punta Gorda, Port Charlotte, or Fort Myers.

Let's take a closer look at Section 179 and how you can take advantage of this deduction to save money on your taxes.

What is Section 179?

Section 179 of the Internal Revenue Code allows businesses to deduct the full purchase price of qualifying equipment and vehicles in the year they are placed into service, up to a specified limit. This means that you can reduce your taxable income and save money on your taxes by purchasing eligible equipment and vehicles for your business*.

What vehicles qualify for the Section 179 Tax Deduction?

Many Lexus SUVs qualify for the Section 179 Tax Deduction, including the LX 600, GX 460, RX 450h, TX 350, TX 350h and TX 500h. These vehicles have a gross vehicle weight (GVW) of over 6,000 pounds, which is one of the requirements for the deduction.

How do I take advantage of the Section 179 Tax Deduction?

To take advantage of the Section 179 Tax Deduction, you must purchase and place into service qualifying equipment and vehicles before December 31, 2023. You can also elect to deduct a portion of the purchase price of eligible vehicles over a period of up to five years.

Why should I choose a Lexus SUV for my business?

Lexus SUVs are renowned for their luxury, performance, and reliability. They are also backed by Lexus's world-class customer service. When you choose a Lexus SUV for your business, you can be confident that you are getting a vehicle that will meet your needs and exceed your expectations.

To learn more about how the Section 179 Tax Deduction can benefit your business, please contact your accounting or tax expert*. Then allow our team of experts to assist you in finding the perfect Lexus that not only elevates your business image but also offers substantial tax advantages. Don't let this incredible opportunity pass you by—visit us at the Scanlon Lexus and drive away in luxury while saving big on your taxes!

* Please note we recommend consulting a tax or accounting professional before making any purchase decision using the Section 179 Tax Deduction.