Ford Section 179 Tax Deduction in Orlando, FL
If you operate a business locally, you require a vehicle that can meet all your expectations. The commercial Ford truck and SUV lineup is the answer -- and the Section 179 tax deduction lets you save significantly on your purchase of a new F-250 or Transit.
The Section 179 tax deduction, a widely used incentive, is designed to provide a financial boost for small- and medium-sized businesses looking to expand affordably. By claiming a Section 179 deduction when you buy a new Ford commercial van, you can write off up to 100% of a vehicle's purchase price -- however, remember to put the vehicle into service by end of day on December 31, 2024, to be eligible.1
Visit our Ford dealership in Orlando to discover more about the 2024 Section 179 tax deduction limits and see which Ford trucks and SUVs qualify for savings.
Which Ford Vehicles Does Section 179 Apply To?
Select new Ford trucks, vans and SUVs qualify for Section 179, yet it's crucial to make sure that the vehicle you buy meets the eligibility requirements set by the IRS. The main stipulations include that the vehicle is put into service before the end of the calendar year and that it is used for business more than 50% of the time.1
Some Ford models that may be eligible for full or partial tax deductions include:
- Ford Expedition
- Ford Expedition MAX
- Ford Explorer
- Ford Super Duty®
- Ford Transit Cargo Van
- Ford Transit Passenger Wagon
Learn More: Why Buy a Ford Commercial Vehicle?
What Are the 2024 Section 179 Deduction Limits?
The Section 179 tax deduction is applicable to commercial vehicles, SUVs, trucks and other models based on specific weight and design criteria. While many commercial vehicles may be eligible for 100% deductions, other traditional passenger vehicles are eligible for partial deductions. For 2024, the Section 179 limits are as follows:
- 2024 Section 179 Deduction Limit: $1,220,000 -- applicable to both new and pre-owned equipment, provided the equipment is new to you.1
- 2024 Bonus Depreciation: 60% -- valid for new and used equipment.1
- Passenger Vehicles Deduction Cap: Vehicles such as pickups and heavy SUVs that have a GVWR (gross vehicle weight rating) between 6,000 and 14,000 pounds may be eligible for a partial deduction.1
Buy a New Ford Near Me
If you're in the market for a new Ford commercial van or work truck in Orlando, contact Greenway Ford. Our Ford commercial sales team can delve into the advantages of the Section 179 program, and our auto finance professionals are here to assist, too. If you're ready to expand your business with a qualifying Transit cargo van or new Ford F-150 in Florida, give us a call or stop by our showroom today!
1 Information is accurate as of the publishing date. Refer to https://www.section179.org for the most recent details.