Nissan Business Vehicle showing Frontier

Potential Federal Tax Savings [[106]]

Two people discussing potential business tax deductions at Nissan dealership

New Business Vehicles

Potential 2023 Federal income tax deduction

There are significant opportunities for potential 2023 Federal income tax deductions for business vehicles. The rules governing Federal tax deductions can be complex, and the tax benefits can vary based on the vehicle you purchase. Consult with a tax professional to explore potential tax benefits your business may qualify for when it purchases and places into service a new vehicle in 2023.

Important Tax Benefit Info

The Federal income tax deductions referenced are for informational purposes only. This information does not constitute tax or legal advice. All persons considering the use of potential income tax deductions or other tax benefits should consult with their own tax or legal professional to determine eligibility, a specific amount of deductions available, if any, and further details. The deductions are not within Nissan’s control and are subject to change without notice. Interested parties should confirm the accuracy of the information before relying on it to make a purchase.

Nissan Kicks Business Vehicle

Exploring Potential 2023 Tax Deductions

Section 179 potentially allows a business to claim a 2023 Federal income tax deduction for up to 100% the cost of qualifying vehicles that are acquired and placed in service in 2023, rather than depreciating the cost over time. For 2023, the maximum Section 179 expense deduction is $1,160,000 for all qualifying property.  [[673]][[2216]][[3829]]

Vehicles That May Qualify in 2023

Up to 100% of the qualifying vehicle purchase price in first-year deductions [[2216]]

Section 179 potentially allows businesses to deduct up to 100% of the purchase price per qualifying heavy truck in the first year. Below are Nissan heavy trucks that may qualify. Consult with your business’ tax professional to fully understand the requirements and limitations of Section 179. [[2216]]

Up to $20,200 per qualifying vehicle in first-year deductions [[2216]]

Section 168(k) potentially allows businesses to deduct up to $20,200 per qualifying vehicle as first-year depreciation on qualifying sedans, and SUVs. Below are Nissan vehicles that may qualify for this deduction. Consult with your business’ tax professional to fully understand the requirements and limitations of Section 168(k).[[2216]]

Nissan Business Vehicle lineup showing Kicks, LEAF and Frontier

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