Are you a business owner looking to add a new Ford vehicle to your fleet? Our team at Sarchione Ford Randolph wants to introduce you to Section 179 of the current IRS tax code. Qualifying vehicles that have a gross vehicle weight rating (GVWR) exceeding 6,000 pounds may be eligible for bonus depreciation during the first year of ownership when used solely for business purposes. This can significantly lower your tax liability and save your business thousands of dollars. Below, you’ll find additional information related to Section 179 along with a list of which Ford trucks qualify for Section 179. Let’s get started!
» REMINDER: If you have any questions, be sure to contact your tax professional for exact recommendations and rules related to Section 179 and vehicle eligibility. «
Section 179 of the IRS tax code allows businesses to deduct the price of qualifying equipment, such as vehicles, purchased or financed during the tax year. This incentive was introduced by the United States government to encourage businesses to buy equipment and invest in themselves.
Vehicles with a GVWR (gross vehicle weight rating) over 6,000 pounds, but not more than 14,000 pounds, allows for 60% bonus depreciation in the current tax year, provided the vehicle is bought and put into service before January 1, 2025 and also meets other conditions:
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NOTE: Individual tax situations may vary. Please consult your tax advisor for complete details on rules applicable to your business.
The following Ford models currently may qualify for Section 179 deduction based on a gross vehicle weight rating (GVWR) exceeding 6,000 pounds. As always, if you have any questions, please consult your tax professional for exact rules regarding Section 179 and vehicle eligibility. Please note: model eligibility may vary based on trim level and equipment. The list is subject to change.
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» As always, if you have questions, consult your tax professional for exact rules regarding Section 179 and vehicles. «
¹ Individual tax situations may vary. The information presented was accurate at time of publishing. Federal rules and tax guidelines are subject to change. Consult your tax advisor for complete details on rules applicable to your business.
² Comparisons based on Section 179 and 168(k) of the Internal Revenue Code, which allows for additional first year depreciation for eligible vehicles and reflects figures for owners who purchase vehicles for 100 percent business use and place vehicles in service by January 1, 2025.
³ Luxury car depreciation can continue year two at $19,800, year three at $11,900, and subsequent years at $7,160 until the vehicle is fully depreciated or sold.
⁴ With Gross Vehicle Weight Ratings (GVWR) of more than 6,000 pounds, these Ford models are classified as “heavy SUVs.” Gross Vehicle Weight Rating (GVWR) is the manufacturer’s rating of the vehicle’s maximum weight when fully loaded with people and cargo.
⁵ Comparisons based on Section 179 and 168(k) of the Internal Revenue Code, which allows for additional first year depreciation for eligible vehicles and reflects figures for owners who purchase vehicles for 100 percent business use and place vehicles in service by January 1, 2025.
Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed. This site, and all information and materials appearing on it, are presented to the user "as is" without warranty of any kind, either express or implied. All vehicles are subject to prior sale. Price does not include applicable tax, Doc Fee ($250), and title/license charges ($33.50). ‡Vehicles shown at different locations are not currently in our inventory (Not in Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed one week.
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