Ford Section 179 Tax DeductionNear Fresno, CA
As a local business owner, maintaining efficient and reliable commercial vehicles is essential. That's where Future Ford of Clovis comes into play -- we offer an extensive range of commercial Ford trucks, vans and SUVs that are tailored to meet your company's needs. In addition, we provide you with the opportunity to save significantly on your purchase of a new F-250 or Transit through the advantageous Section 179 tax deduction.
To learn more about the 2024 Section 179 tax deduction and see which Ford trucks and SUVs are eligible for savings, we warmly invite you to visit our Ford dealership near Fresno. Our trusted, top-tier auto financing team of experts will provide all the necessary information for you to make a well-informed decision that could have a positive impact on the future of the business you’ve worked so hard to build.
Section 179 Limits & Regulations
Section 179 is a tax code instituted by the IRS that encourages the growth of small- and medium-sized businesses. By leveraging this deduction when purchasing a new Ford commercial van or truck, you can potentially write off up to 100% of the purchase price.
For the 2024 tax year, businesses can write off up to $1,220,000 through the Section 179 deduction, with a total spending cap of $3,050,000. To qualify, the vehicle must be bought and put into service by December 31, 2024. Talk to your accountant to make sure you get the most out of this tax program!
Which Ford Vehicles Are Eligible for Section 179 Tax Savings?
Numerous new Ford commercial vehicles and even pre-owned models are eligible for the Section 179 tax deduction, but it's crucial to ensure the vehicle you select satisfies the specific IRS eligibility requirements. It's not only about the acquisition; certain standards must also be met to qualify for this tax benefit.
Firstly, the vehicle must be put into service within the calendar year. This means that it has to be actively used for business purposes and not simply kept in storage. Secondly, it must be used for business activities a minimum of 50% of the time. The type of vehicle can also influence the total deduction amount it's eligible for.
The following Ford vehicles qualify for full or partial Section 179 deductions:
- Ford Expedition
- Ford Expedition MAX
- Ford F-250
- Ford F-350
- Ford F-450
- Ford F-550 S
- Ford Transit Cargo Van
- Ford Transit Passenger Wagon
Ford Truck Sales Near Me
When in search of a new Ford commercial van or work trucks for sale near Fresno, consider Future Ford of Clovis your business partner. Our dedicated Ford commercial sales team is ready to outline the advantages of the Section 179 program in detail. Contact Future Ford of Clovis today and find out how you can deduct the costs of a new Super Duty® truck or used Transit van!
Read More: Why Choose Future Ford of Clovis
1 Information accurate at time of publishing. For more details, please visit www.section179.org.