It's almost tax season -- and there's no better time to upgrade to a new or new-to-you commercial vehicle at our Plattsburgh Ford dealership, where several of our hottest new and used work trucks and vans qualify for the 2024 Section 179 tax deduction.
Not familiar with Section 179? We're here to give you the full scoop on this generous tax deduction, which allows your business to deduct up to 100% of the purchase price of qualifying vehicles and other assets. Learn more at our showroom today!
What Is the Section 179 Tax Deduction?
Section 179 is an IRS tax code intended to help smaller businesses deduct the cost of qualifying assets -- including vehicles -- that are used primarily in business. Just buy a new Ford Super Duty® or pre-owned Transit that's used for business at least 50% of the time and you may be able to deduct the entirety of its purchase price for tax purposes. This means you have the potential for massive tax savings, all while growing your fleet and upgrading your operations.
For your purchase to qualify for the 2024 tax year, you must purchase and place your vehicle into service by December 31, 2024. That's why it's imperative you don't wait any longer to buy your new Ford cargo van or Certified Pre-Owned F-250 in Plattsburgh -- buy now and ensure your new truck purchase qualifies for the current tax year.
Which Ford Vehicles Qualify for Section 179 in 2024?
A wide variety of vehicles in our new Ford inventory are qualified for this deduction under the 2024 Section 179 rules, and the same is true for many of our used cars for sale in Plattsburgh. Ford models that currently qualify for the 2024 Section 179 deduction may include:
- Ford F-150
- Ford Super Duty®
- Ford Transit Cargo Van
- Ford Transit Passenger Wagon
- Ford Expedition
- Ford Explorer
No matter which Ford truck, SUV or commercial vehicle you buy for your business, you can expect exceptional reliability and work-ready performance. Reach out now to learn more about which new or used Ford is right for your operations.
2024 Section 179 Tax Deduction Limits & Benefits
For the 2024 tax year, the following limits are in place:
- Deduction Limit:$1,220,0001
- Spending cap:$3,050,0001
Once the total amount spent on qualifying assets exceeds this spending cap, the deduction limit begins to phase out. More information regarding Section 179 exceptions, spending caps and other tax guidance can be confirmed by speaking with the Ford finance team at our local dealer.
Buy a Commercial Ford Truck Near Me
Ready to learn more about how the Section 179 tax deduction works? Just contact Riley Ford today. While we're not accountants, we are experts on new Ford commercial vehicles and the brand's many benefits and programs for fleet operators. Speak with one of our specialists today and find the best Ford truck for your business before tax season arrives.
Read More: Custom Order a New Ford Truck | Research Ford Commercial Vehicles
1 Information is accurate as of the publishing date. Please consult a tax expert or visit Section179.org for the latest details.