section 179

The Secret to Deducting the Purchase of Your Paint Business Vehicle

The Secret to Deducting the Purchase of Your Paint Business Vehicle

For the current tax year (2016), the PATH Act and Section 179 deductions are still in effect; possibly not for long. For you, as a paint business owner, this means you can purchase a vehicle for your paint business and fully deduct the cost on your taxes, thereby savings thousands of dollars on the purchase of a work vehicle. There are a few guidelines you must follow in order to take the full deduction in the year of purchase.