We understand the importance of making smart financial decisions for your business. That's why Weelborg Ford is excited to introduce you to the Section 179 tax deduction -- a benefit that allows businesses to deduct up to the full purchase price of qualifying Ford vehicles, optimizing your investment in your fleet. Explore how this incentive can help and make buying a new Ford commercial vehicle even more affordable. Learn more and schedule a test-drive at our Ford dealership near Wilmar.
What Is Section 179?
Section 179 is a tax deduction that allows businesses to write off up to the full purchase price of eligible new Ford models and used vehicles purchased or financed during the tax year. This means substantial savings for your business, enabling you to grow and update your fleet with minimal financial impact. The Section 179 tax deduction was designed by the U.S. Government to help small- and medium-sized businesses invest in themselves, so come discover the tax advantages that are available to you at our Redwood Falls Ford dealership.
Eligible Ford Vehicles Under Section 179
At Weelborg Ford, we offer a range of vehicles that qualify for this beneficial tax deduction, including Ford F-150 and Super Duty® trucks, as well as the Ford Transit® Cargo Van. These vehicles are ideal for various business needs, providing both rugged capability and modern features. Visit us to review your options and find the perfect Ford commercial truck, SUV or van for your business!
Limits of Section 179
The Section 179 tax deduction has some limits and specific eligibility requirements.1 These include:
- 2024 Deduction Limit: $1,220,000
- Valid on new and used equipment (must be new to buyer), either purchased or leased.
- 2024 Spending Cap: $3,050,000
- Upon reaching this cap, deduction is reduced on dollar-for-dollar basis.
- 2024 Bonus Depreciation: 60%
- This tax benefit enables a business to deduct a substantial percentage of the purchase price of qualifying assets immediately.
- Typically claimed after the Spending Cap is achieved.
- Applicable to both new and used vehicles.
Claim Section 179 Tax Savings
Optimize your business investments with Section 179 tax benefits at our local Ford dealer. Our team is ready to assist you in finding the right vehicle to qualify for these savings. Contact Weelborg Ford today to learn more and take advantage of this opportunity to upgrade your fleet efficiently.
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1 Information accurate at date of publishing. Refer to https://www.section179.org for most up-to-date specifications.