Ford Section 179 Near Eudora, KS
Having a reliable fleet of vehicles that your business can count on for its transportation needs is crucial for success. That's where the impressive commercial lineup of Ford trucks, vans and SUVs at Laird Noller Ford Lawrence comes into play. The best part? You can take advantage of the Section 179 tax deduction and enjoy significant savings when you purchase a new heavy-duty Ford truck or pre-owned cargo van.
What is Section 179? The Section 179 tax deduction was specifically designed by the IRS to provide financial incentives for small- and medium-sized businesses to grow and thrive. This auto tax incentive allows you to deduct up to 100% of the price of eligible vehicles! To qualify, simply ensure that the vehicle is put into service by December 31, 2023.
Visit our Ford dealership near Eudora to learn more about the 2023 Section 179 tax deduction and discover which Ford vehicles are eligible for savings.
Which Ford Models Qualify for Section 179 Savings?
Many "singular-use" vehicles are eligible for full Section 179 deductions -- think large commercial trucks or business-specific vehicles that aren't typically used for personal purposes. Traditional passenger vehicles can also qualify for partial deductions, however, so long as they're used for business purposes more than 50% of the time.
Both new Ford trucks and used vehicles are eligible for Section 179 -- what matters is that the vehicle is new to you. Ford models that currently qualify for full or partial deductions include:
- 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
2023 Section 179 Tax Limits & Overview
How much you can deduct depends on the type of vehicle purchased, along with certain design and weight requirements. The 2023 Section 179 limits and restrictions include:
- 2023 Deduction Limit: $1,160,000 -- applicable to new and used equipment (must be new to the buyer).
- 2023 Bonus Depreciation: 80% -- valid for new and used equipment.
- Passenger vehicles (such as pickups or heavy SUVs) weighing more than 6,000 but less than 14,000 pounds can achieve a maximum first-year deduction of up to $28,900 in 2023.1
Commercial Ford Sales Near Me
Ready to take your business to the next level? A new Ford Super Duty® truck or used Transit van can help you do just that. Contact Laird Noller Ford Lawrence today by giving us a call or stopping by our showroom. We can't wait to help you find the perfect vehicle that will enable your business to thrive!
1 Information accurate at the date of publishing. Refer to https://www.section179.org for the most up-to-date specifics.
