Section 179 Tax Deduction

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How Section 179 Works:

Thanks to guidelines under the IRS Section 179 tax code, many small and medium‑sized businesses that invest in new equipment can now write off up to $1,220,000 of these purchases on their 2024 IRS tax returns. In years past, businesses were required to spread these deductions over several years. The tax benefits provided under IRS Section 179, allow many small businesses to write off the entire purchase cost of one or more qualifying new Ford trucks or vans. Again, that's up to $1,220,000 worth, all in the first year they're placed in service.

section 179 tax deduction for ford vehicles in syracuse ny chart 

Which Vehicles Qualify For Tax Savings?

Trucks with a GVWR greater than 6,000 lbs. and a bed length of at least six feet (i.e., Ford F‑150/F‑250/F‑350) qualify for the maximum first-year depreciation deduction of up to the FULL PURCHASE PRICE. SUVs, including trucks, with a bed length of fewer than six feet and a GVWR greater than 6,000 lbs. (i.e., Ford F-150 SuperCrew 5.5 ft. bed, Expedition) qualify for a maximum first-year depreciation deduction of up to the first $25,000 of the full purchase price plus 60% depreciation of any remaining balance. The IRS 100% bonus depreciation allows businesses to save more on assets when they are first purchased, and can be used with or without Section 179.

 
 

What Is IRS Section 179? How Can It Help Me?

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, 2024. That 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 income this year! Come to our Ford Dealership in Auburn, NY: 305 Grant Ave, Auburn, NY 13021. Or Call our Auburn Ford Dealership at 315-252-7255.  Download the Section 179 Tax Deduction Form Here: Download Form 

  1. Bidleman Ford

    305 Grant Ave
    Auburn, NY 13021

    • Sales: 315-595-5501
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Section 179 Tax Deduction

  • Contact our Section 179 Tax Deduction Team : 315-595-5501
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