What is IRS Section 179 & how can it help my bottom line?
Section 179 is the current IRS tax code that allows you to buy qualifying Ford vehicles and deduct up to the full purchase price (including any amount financed) from your gross taxable income if purchased before December 31, 2017That means that if you buy a piece of qualifying equipment and products, you may be able to write off up to the FULL PURCHASE PRICE from your gross taxable
Does the date of my purchase have an impact on the section179 deduction? Yes. To qualify for the Section 179 tax deduction for the 2017 tax year, your Ford vehicle must be purchased or leased and placed into service by December 31, 2017
Which vehicles qualify for the greatest IRS tax savings?
What about smaller Trucks/Vans/SUVs? Vehicles of less than 6,000 lbs. GVWR (built on a truck chassis), such as the Transit Connect, may still qualify under current bonus depreciation for up to $11,560 per vehicle in the first year Passenger automobiles under 6,000 lbs. GVWR also may qualify for up to $11,160 in depreciation
For more information please refer to IRS.gov (Section 179 Deduction) -or- consult a tax advisor.View Inventory