Why Business Vehicle Owners Should Take Advantage of Tax Code 179

As business owners, real estate agents and self-storage owners should seek out ways to reduce their tax burden. One way to take advantage of a deduction is Tax Code 179.

This section of the U.S. internal revenue code offers an immediate deduction for assets. If you have capital to invest in an asset that could not only be a deduction but also add value or revenue to your business, you’d want to explore options, right? Buying a truck is one option to do both.

What Is Tax Code 179?

A 179 tax deduction enables business owners to claim an immediate expense reduction for equipment. This code is an alternative to capitalizing and depreciating an asset over time. Such a purchase can save you money on your business tax return.

This special deduction began in 2018 and allows you to write off up to $1 million worth of depreciable assets in the year purchased.

Requirements and Limitations for Vehicle Deductions

There are requirements and limitations for any vehicle depreciation deduction. To qualify, you must use the vehicle at least 50% of the time for business. Different classes of vehicles have top-end deductions, including small cars and light SUVs. However, for trucks that exceed 6,000 lbs. with no rear seating, there is no cap.

How Real Estate Agents and Self-Storage Owners Can Benefit from Truck Ownership

Could a truck improve your business? By buying a moving truck, real estate agents and self-storage owners can reap many benefits, including:

  • Advertising: Your brand and graphics will make a splash when your truck hits the road. (You could reach over 600 impressions per mile!)
  • Community goodwill: You can use your truck for community events or fundraisers to give back and build your reputation.
  • New revenue stream: Rent your truck to your self-storage customers. It’s convenient for them and provides a new source of revenue.
  • Growing your business: Having a truck on hand for customers is a differentiator. That, combined with the exposure, could boost your market share.

Claim Your 179 Tax Deduction for 2020

The clock is ticking on 2020 deductions. To take advantage of Tax Code 179, business owners must make the purchase by the end of the year. With only weeks left, this is your opportunity to buy a truck that can benefit you, tax-wise, and elevate your business.

At On The Move, we have programs for real estate agents and self-storage owners. In addition to selling or leasing you the truck, we install the graphics, help with access to our insurance license program and provide service. It’s a turnkey experience for you.

Start today by finding your truck.

Follow us on social media for the latest updates in B2B!

Image

Latest

DXpedition
Icom Powers 3Y0K : Ham Radio’s Most Ambitious DXpedition to Remote Bouvet Island Part 1
July 11, 2025

Bouvet Island sits at the edge of the world. It is frozen, uninhabited, and almost impossible to access. Fewer people have set foot there than in space. That level of remoteness is exactly what makes it so valuable to amateur radio operators. The island ranks tenth on ClubLog’s list of Most Wanted DXCC entities,…

Read More
entrepreneurial success
The Hidden Key to Entrepreneurial Success: Build Momentum Through Personal Branding and Authentic Networking
July 10, 2025

What if the biggest pivot of your career started with a conversation?  In this episode of Professional Quotient, host Jason Winningham welcomes Fanny Dunagan, CEO and Content Strategist of PathLynks, LLC. Fanny shares her journey from high-pressure consulting in Singapore to founding her own media and branding company — and why learning to network…

Read More
Q2 2025
RM Q2 2025 Wrap Up
July 9, 2025

Rogue Marketing continues to lead with intention in a space often driven by noise. Q2 2025 reflected a strategic focus on substance, where each initiative supported long-term brand growth. The team transformed internal recognition efforts into enduring brand assets and refined event strategies through immersive, results-driven experiences. Website launches during the quarter balanced visual…

Read More
amateur radios
Hamvention Spotlight: Emergency Preparedness Led PrepHam Paul to Amateur Radios and a Rising Voice in the Field
July 9, 2025

PrepHam Paul (K5VLP) celebrated his first visit to Dayton Hamvention by marking a major channel milestone. He hosted a giveaway of the  IC-2370B mobile radio from Icom to thank viewers for helping him reach 10,000 subscribers. His passion for emergency preparedness, rooted in his experience as an Eagle Scout and later studies in emergency management,…

Read More