Ford Section 179 Tax Deduction Near Akron, OH
As tax season approaches, now is the optimal time to upgrade to a new or used commercial vehicle at Pallotta Ford in Wooster. Our Ford dealership near Akron is proud to offer numerous new and pre-owned work trucks and vans that qualify for the 2024 Section 179 tax deduction.
Not familiar with Section 179? Let us fill you in on this substantial tax benefit that allows businesses to deduct up to 100% of the purchase price of qualifying vehicles and other assets.1 Visit us to learn more about how you can save!
How Does the Section 179 Tax Deduction Work?
Section 179 is an IRS tax code designed to help small businesses deduct the cost of qualifying assets, like vehicles, used primarily for business purposes. Simply purchase an eligible new Ford truck, SUV or van at Pallotta Ford. To ensure that you're able to deduct the entire purchase price for tax purposes, you'll want to use the vehicle for your business at least 50% of the time.1
Ensure your purchase qualifies for the 2024 tax year by buying and placing your vehicle into service by December 31, 2024.1 Don't miss out -- act quickly to make sure your next Ford purchase meets the current tax year's requirements.
Which Ford Vehicles Qualify for Section 179 in 2024?
Whether you have your eye on a new Ford truck near Akron or want to upgrade to a qualifying pre-owned Ford SUV, many vehicles at Pallotta Ford meet the criteria for the 2024 Section 179 deduction.
Qualifying models include:
- Ford F-150
- Ford Super Duty®
- Ford Transit Cargo Van
- Ford Transit Passenger Wagon
- Ford Expedition
- Ford Explorer
Enhance your small business with a select Ford F-150 or Super Duty® from our Wooster Ford dealer and you'll benefit from outstanding reliability, performance and tax savings.
Section 179 Tax Deduction Limits & Benefits
For the 2024 tax year, the Section 179 deduction comes with these limits:
- Deduction Limit: $1,220,000
- Spending Cap: $3,050,000
Once your qualifying acquisition costs exceed the spending cap, the deduction limit starts to phase out. For more detailed guidance on exceptions, spending caps and other queries, reach out to our local Ford finance center.
Commercial Ford Dealership Near Me
Eager to see how Section 179 can significantly benefit your business? The team at our Ohio Ford dealership can expertly guide you through our commercial offerings and the various benefits Ford provides for fleet vehicles. Contact Pallotta Ford today to speak with one of our knowledgeable specialists today to get started on your Section 179 tax savings!
1 Information is accurate as of the publishing date.
