Are you considering expanding your business fleet and looking for ways to gain significant tax benefits in the process? Look no further than our Bay Shore Ford dealer. We offer an extensive lineup of commercial Ford trucks, vans and passenger vehicles suited for business purposes. What sets us apart is our dedication to helping business owners capitalize on the financial advantages provided by the Section 179 tax deduction.
How Do Section 179 Tax Deductions Work?
The Section 179 tax code offers a unique opportunity for businesses to write off the entire or partial cost of qualifying vehicles -- they must be used for business purposes at least 50% of the time -- making it a crucial consideration for expanding your fleet. The team at Newins Bay Shore Ford is committed to guiding you through every step, ensuring you understand how to take full advantage of these tax benefits.
Purchasing and putting your vehicle into service by the deadline could mean significant savings and more capital to reinvest in your business. Visit us today to explore our inventory and learn how you can benefit from the Section 179 tax deduction!
Which Ford Models Are Eligible for Section 179 Tax Savings?
Whether you’re considering a new Ford or used vehicle, what matters is that the vehicle is new to you. Single-use, business-dedicated vehicles could be eligible for a full deduction under the Section 179 tax code.
For traditional passenger vehicles used primarily for business at least 50% of the time, a partial deduction applies. Eligible vehicles include pickups and SUVs weighing between 6,000 and 14,000 pounds, which can qualify for a maximum deduction of $30,500 for heavier SUVs.1
The following Ford vehicles may qualify for partial or full Section 179 deductions:
- Ford F-150
- Ford Super Duty®
- Ford Transit Cargo Van
- Ford Transit Passenger Wagon
- Ford Expedition
- Ford Expedition MAX
- Additional Trucks & SUVs
You can contact Newins Bay Shore Ford to learn more about which Ford models are eligible for Section 179 tax savings and how you can benefit.
What Are the 2024 Section 179 Tax Deduction Limits?
For the 2024 tax year, businesses can write off up to $1,220,000 with a spending threshold of $3,050,000.1 Any spending beyond this limit will reduce the deduction, making the Section 179 provision most beneficial for small- and medium-sized businesses. For more specific information regarding deduction limits and amounts, it’s advisable to consult with a tax professional or reach out to the Newins Bay Shore Ford finance team.
Ford Commercial Vehicle Sales Nearby
Explore our extensive selection of new Ford commercial trucks and vans for sale online, and then visit us at Newins Bay Shore Ford to see how we can help you expand your fleet affordably. Our knowledgeable team is ready to assist you in understanding and utilizing the Section 179 tax deduction to your advantage. Drive away in a new Ford F-150 or Super Duty® today and take advantage of these incredible tax benefits!
1 Information accurate as of the publishing date. Please consult Section179.org for the most up-to-date details.