Section 179 Tax Benefits
Save with Tax Savings: Section 179 Tax Deductions Available on Your New Ford Vehicle
If you've been considering buying a new Ford vehicle for your business, you may be able to save with the Section 179 tax deduction codes. Section 179 allows you to save money on any new or used vehicle purchase, as long as it qualifies under the guidelines put into place.
What is the Section 179 Deduction?
Established by the IRS (Internal Revenue Service), Section 179 was created to encourage businesses to purchase the vehicles they need, promising a significant tax benefit with each purchase. With the Section 179 tax deduction, businesses can subtract the entire purchase price of eligible vehicles or properties from their taxable income the year they put the asset into use. That means that, instead of spreading out the depreciation over several years, you get the one lump sum the year you bought the vehicle. Section 179 is designed to provide immediate tax relief for the business, helping stimulate the economic growth of the company and free up money to help expand the business further.
Who Qualifies for the Section 179 Deduction?
Mostly any business is eligible to use the Section 179 deduction. From construction and landscaping businesses to companies in healthcare, agriculture, delivery services, and retail, you will most likely be able to take advantage of this amazing opportunity. Some of the limits put into place on Section 179 include:
- Deduction Limit - The Section 179 deduction limit is currently set at $1,250,000. Businesses can deduct up to this amount on equipment and vehicles for this year.
- Spending Cap - For 2025, the phase-out threshold is set to $3,130,000. Once you reach this cap, the deduction limit will begin to be reduced.
- Bonus Depreciation - For 2025, a 40 percent bonus depreciation is available.
- Vehicle Use - The vehicle or piece of equipment must be used at least 50 percent of the time for business purposes.
- Vehicle Options - Whether you need a new Ford Super Duty, a new Ford box truck, or a new Ford Transit, these vehicles may qualify. Any truck, van, heavy-duty SUV, or passenger vehicle may be a good fit for the tax deduction. Check out our new inventory to find several new Ford vehicles and monthly specials that may apply.
Contact Fred Beans Ford of West Chester to Learn More
If you have questions about the Section 179 tax deduction, our team is here to help. Feel free to contact us or stop by our West Chester, PA, showroom from Glen Mills, Malvern, or beyond. We'd love to help our Wilmington and New Castle area drivers find the new commercial vehicle they need for their business and save money along the way. We also offer an in-house service center to keep your trucks and vans running strong, and we have a Fred Beans ExpressWay tool to assist with your vehicle purchase. Fill out our finance application or find your way here to learn more.
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Fred Beans Ford of West Chester
1155 West Chester Pike
West Chester, PA 19382
- Sales: 8555825335
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