SECTION 179 TAX DEDUCTION
Section 179 Tax Deductions | Business Tax Deductions
Elevate your business with the right equipment. At Myers Ford Co Inc, we take pride in helping our customers get the most out of every opportunity. Section 179 tax deductions are a fantastic chance for your business to move ahead.
Whether you're building a fleet, adding a single vehicle, or looking for ways to reduce your annual tax liabilities, this IRS code can help. Visit our dealership today and explore the different options at your disposal. We welcome all businesses, regardless of their size, to visit us today. We want to help you win.
What is Section 179?
Section 179 is an IRS tax code that allows businesses to deduct the cost of qualifying equipment in the year the equipment is placed into service. Vehicles must be used for business purposes at least 50% of the time to qualify for this tax code. Here are a few examples of the benefits that taking advantage of this program offers.
Key Advantages of Section 179
- Your business receives an immediate reduction of taxable income instead of writing off deductions, a little at a time.
- Improved year-end cash flow planning.
- The capability to reinvest your tax savings back into your business operations.
- You can choose from a variety of qualifying equipment to support your business objectives.
Qualifying Ford Models
With Section 179 tax deductions, you gain access to a wealth of automotive options. Our Ford lineup offers several great options to choose from.
Section 179 determines eligibility based on a vehicle's gross vehicle weight rating. This is a list of Ford models over 6,000 pounds that may qualify under this program.
- Ford F-150®
- Ford F-150 Lightning®
- Ford Super Duty®
- Ford Transit®
- Ford Explorer®
- Ford Expedition®
Example of Potential Tax Savings
If your business buys a Ford Super Duty model for approximately $85,000, and you're in a 30% combined tax bracket, you can reduce your tax liability by around $25,500. Remember, every business is unique. Before deciding if Section 179 is right for you, consult a tax professional.
Reasons to Choose Myers Ford Co Inc
We go the extra mile to ensure you are in a winning position. Our knowledgeable sales and commercial financing team understands the importance of this in your financial planning. We want to help you find a great vehicle while protecting your business assets. Visit us today to explore all the ways we can help your business thrive.
How can we help?
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Myers Ford Co Inc.
13959 Spotswood Trail
Elkton, VA 22827
- Sales: (540) 298-1271
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