If you run a local business, you need a vehicle that can keep up with all your demands. That's where the commercial Ford truck and SUV lineup comes in -- and you can save big on your purchase of a new F-250 or Transit by taking advantage of the Section 179 tax deduction.
This popular tax deduction was created to provide a financial incentive for small- and medium-sized businesses to affordably grow. By claiming a Section 179 deduction when you buy a new Ford commercial van, you can write off at least a portion of the purchase price -- just make sure to put the vehicle into service by end of day on December 31, 2023, in order to qualify.
Visit our Ford dealership in Augusta to learn more about the 2023 Section 179 tax deduction and see which Ford trucks and SUVs for sale qualify for savings.
Which Ford Vehicles Does Section 179 Apply To?
Most new Ford trucks and SUVs qualify for Section 179, but it's equally important to ensure that the vehicle you purchase meets the eligibility requirements laid out by the IRS. The most important stipulations include that the vehicle is put into service prior to the end of the calendar year and that is used for business more than 50% of the time. New Ford models that are eligible for full or partial tax deductions may include:
- Ford F-150 (Depending on Model Configuration)
- 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
What Are the 2023 Section 179 Deduction Limits?
The Section 179 tax deduction applies to commercial vehicles, SUVs, trucks and other models based on different weight and design requirements. For 2023, the Section 179 limits are as follows:
- 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
Buy a New Ford near Me
If it's time for a new Ford commercial van or truck in Augusta, contact Stokes Hodges Ford. Our Ford commercial sales team can discuss in more detail the benefits of the Section 179 program, and our auto finance experts are here to help as well. If you're ready to grow your business from behind the wheel of a new Ford Super Duty® or Transit, give us a call or stop by our showroom.
1 Information accurate at the date of publishing. Refer to https://www.section179.org for the most up-to-date specifics.