Archive for August, 2018
Who doesn’t like to get extra money back on their taxes? Especially if you run your own business, that extra money can go a long way! Learn about Section 179?
Did you know if you’re a self-employed businessman you can qualify for the Section 179 Tax Deduction? Sounds complicated? It’s not!
Section 179 of the IRS Tax Code essentially lets businesses “deduct the full purchase price of qualifying equipment and/or software purchased of financed during the tax year.” [X] So what does that mean? It means that if you purchase or finance a piece of qualifying equipment, like a vehicle, Section 179 allows businesses to deduct the full purchase price!
Several years ago businesses had to deduct the price of qualifying equipment over several years through depreciation. And while Section 179 lets business owners deduct the entire price of qualifying equipment at once, it does have limits to how much a business can claim.
There are caps a business can claim through Section 179. According to the official IRS website, “The maximum amount you can elect to deduct for most section 179 property you placed in service in tax years beginning in 2017 is $510,000 ($545,000 for qualified enterprise zone property). This limit is reduced by the amount by which the cost of section 179 property placed in service during the tax year exceeds $2,030,000.”
So, who exactly qualifies for Section 179? While big businesses can take advantage of Section 179, small and medium-sized businesses can really benefit the most. According to the Section 179 website, “all businesses that purchase, finance, and/or lease new or used business equipment during tax year 2018 should qualify for the Section 179 Deduction (assuming they spend less that $3,500,000).”
For a list of qualifying property that Section 179 covers, please visit the Section 179 website.
If you’d like to speak to someone to find out more about how your business can qualify, please visit the Payne Auto Group website.
When it comes to redesign, some auto manufacturers choose between focusing on precision and safety, or comfort and class. Volkswagen decided to not make any compromises in precision or class with the new 2019 Jetta.
This all new and redesigned vehicle boasts 5 trims, each with their own special features: the S, SE, R-Line, SEL, and the SEL Premium. When choosing a trim, one must consider what is best for themselves. With regard to the Jetta R-Line trim, which is a unique appearance package, the main differences in trim is that the features build up from the trim before. That being said, let’s explore the highlights from these 5 distinct 2019 Volkswagen Jetta trims.
The Standard 6-speed Jetta S hosts key features such as a rear view camera, Apple Carplay™ and Android Auto™, a 6.5-inch touchscreen interface that includes Bluetooth® connectivity, LED exterior lighting, automatic headlights and much more.
The Standard 8-speed Jetta SE’s highlights include Front Assist, Blind Spot Monitor with Rear Traffic Alert, forward collision warning, a panoramic sunroof, heated side mirrors, keyless action and push-button start, leather seats and much more.
This brings us up to the 2019 Jetta R-Line. As stated before, this trim has a unique appearance package. These key features include, R-Line badging, black grille accents, side mirrors and rear sport valance, 17-inch Trenton alloy wheels, two-tone seat design and XDS Cross Differential System.
The 2019 Jetta SEL’s key features include Adaptive Cruise Control, High Beam Control, the active Lane Keeping System, a BeatsAudio® system with eight speakers as well as a subwoofer, an auto-dimming rearview mirror.
And finally we come to the 2019 Jetta SEL Premium. These key features build up upon the SEL model, and include remote start, an 8-inch infotainment system equipped with navigation software, side mirrors with integrated turn signals.
While there are differences in all of the 2019 Volkswagen Jetta’s, every model has a turbocharged 1.4 liter engine that boasts 147 horsepower and 184 pound-feet of torque. All models are fuel efficient with EPA estimates at 30-city mpg, 40-highway mpg and a 34-combined mpg.
We Texans are no stranger to the summer heat. With temperatures reaching as high as 110 degrees Fahrenheit, you’ll find people racing from the sun and into the cool, crisp air of the great indoors.
Unfortunately, Texas ranks as the number one state in the United States for child-in-vehicle heat related deaths. According to Lorrie Walker, technical adviser and training manager at Safe Kids Worldwide, a children’s safety advocacy group, “a child’s body heats up three to five times faster than an adult’s body. The reflecting of the sunlight in on the glass, it’s like an oven. Cracking a window does not help.” [X]
On a hot day and after just ten minutes, the interior car temperature will usually be 19 degrees hotter than the outside temperature. After half an hour, the inside of your car will be 34 degrees hotter than the outside. By that hypothesis, in 95-degree weather the interior of your car will be 129 degrees in just half an hour and in 100 degrees, it can reach 134 inside your car. [X]
According to No Heat Stroke, it is reported that Texas has had 114 pediatric vehicular heatstroke deaths from 1998-2017. Texas outranks every other state in this category on the list.
It is so important to Look Before You Lock. Payne Auto Group wants everyone to stay responsible during these high temperature months. Always make sure you check the backseat for your pets or children before you leave your vehicle. Don’t let your child or pet become another statistic! Heat related deaths are preventable! Look Before You Lock!
For more information about Look Before You Lock, please visit this website.