Buy a new machine and reduce your tax liability at the same time.

Ask your tax advisor* about the Tax Cuts and Jobs Act (TCJA) which was passed by the U.S. Congress in December 2017.

It includes a package that allows businesses of all sizes to depreciate the cost of new equipment by:

100% Sep. 28, 2017 to Dec. 31, 2022;
80% during 2023;
60% during 2024;
40% during 2025;
20% during 2026;

The TCJA also includes a provision called Section 179 that allows qualifying businesses to take a major deduction on the first $1,040,000 of new or used equipment.

In Canada, the Department of Finance has updated the Capital Cost Allowance to allow businesses to immediately expense 100% of the cost of certain new machines that are purchased before 2028 — so this applies to 2020. Under new Accelerated Investment Incentive rules, Canadian businesses are also eligible for an enhanced tax depreciation write-off in 2020 of up to 3 times the amount that would normally apply.

To Learn More, Read our Blog Article

The Scoop

Take Advantage of Year-end Tax Benefits on 2020 Equipment Purchases

If you’re looking to put money back to your bottom line this year, your business could save thousands of dollars on new and used equipment purchases. Take advantage of available tax incentives created by the government to encourage businesses to buy equipment and invest in themselves.

Read the article

Equipment Request

Your request is very important to us. We guarantee that your request will be handled quickly and appropriately. Your request will be directed to your local dealer who is equipped to give you the accurate answers to your needs.

Parts Request

General Enquiry

To submit questions or comments to your local Volvo dealer please complete the following information.

Attachment Request

dynamic form type

form type

Machine Type

Model

Serial Number

Attachment Model

Description of Parts Needed

Description of Attachment Needed

First Name

Last Name

Company Name

Email Address

Address

City / Town

Country

State/Province

Zip / Postal Code

Telephone / Mobile

Comments

Please check the boxes if you would like to receive marketing communications from Volvo by email and/or SMS, including updates about products, services, and special offers.

Send me emailsSend me SMS text messages

reCAPTCHA helps prevent automated form spam.

The submit button will be disabled until you complete the CAPTCHA.

Contact Information

* U.S. and Canadian tax incentives are complicated. There are many limits, exclusions and special rules for different types of businesses in each country. This announcement is intended for informational purposes only and should not be considered tax or legal advice. Volvo Financial Services does not provide tax advice. Customers should contact their tax, legal or accounting advisor with specific questions about potential tax savings and details regarding the TCJA in the U.S. or the Capital Cost Allowance in Canada.