Ford Section 179 Tax Deduction near Greenville, PA
Section 179 Tax Incentives
Are you a small-business owner looking to take your company to the next level by expanding your Ford fleet? You may be able to save on your commercial Ford purchase with the Section 179 Tax Deduction. What's Section 179? It's a tax code put in place by the IRS to help small-to-medium-sized businesses invest in themselves by allowing them to deduct up to 100% of the costs of qualifying vehicles. In order to take advantage of Section 179 tax savings for the current tax year, you must bring your vehicle into service -- so hurry into our Ford dealership near Greenville, PA, before the year is out!
Section 179 Tax Deduction Qualifications & Limits
For the tax year, businesses can write off up to $1,050,000. The total amount on equipment purchases is capped at $2,620,000. Once a business has surpassed that amount, the Section 179 deduction will continue to decrease. Qualifying vehicles that are used exclusively for business purposes can qualify for the full Section 179 tax rebate. Typical passenger vehicles that are used for business at least 50% of the time can also qualify for a portion of the deduction, as well as Bonus Depreciation. This is limited to $11,160 for cars and $11,560 for trucks and vans. Some SUVs between 6,000 and 14,000 pounds, meanwhile, can qualify for up to a $25,000 total deduction.
What Ford Vehicles Are Eligible for Section 179?
While Ford Section 179 tax savings are most often applied to commercial Ford vehicles, you can claim this rebate on the purchase of many other qualifying models. Eligible Ford vehicles include:
- Ford F-150
- Ford Super Duty®
- Ford Transit
- Many more Ford trucks and SUVs!
For more information about how you can claim the Section 179 Tax Deduction before year's end, contact McCandless Ford Meadville. Our Ford finance team will be happy to answer all your questions and let you know about our ongoing new vehicle incentives. We can't wait to help you buy a new Transit van or finance a Super Duty® truck nearby!
