Ford Section 179 Tax Deductions in Tulare, CA
Understanding the tax advantages available to your business can significantly impact your bottom line, and the Section 179 tax deduction is a valuable tool for businesses looking to invest in new vehicles. At Will Tiesiera Ford in Tulare, we're dedicated to helping local businesses maximize their savings when purchasing new Ford vehicles.
To be eligible for Section 179 tax savings, you must purchase a qualifying Ford model and put it into service by the end of the day on December 31, 2024. Whether you're expanding or upgrading your fleet, the Section 179 deduction can offer substantial financial benefits.
What Is the Section 179 Tax Deduction?
The Section 179 tax deduction allows businesses to deduct up to 100% of the costs of vehicles purchased and used for company purposes.1 This means you can potentially write off the entire cost of a qualifying new Ford truck or van, reducing your taxable income and increasing your business's savings. This deduction is particularly beneficial for businesses that need to acquire multiple vehicles or invest in higher-cost models.
What Are the Section 179 Tax Deduction Limits for 2024?
The Section 179 tax code was established to primarily benefit small- and medium-sized businesses. That's why there are certain spending limits in place that affect the total amount a company is able to deduct. The 2024 Section 179 limits are:
- 2024 Deduction Limit: $1,220,000 -- applicable for new and used equipment (must be new
to the purchaser).1 - 2024 Spending Cap: $3,050,000 -- Once your qualifying acquisition costs exceed the spending cap, the deduction limit starts to phase out.1
Which Ford Vehicles Are Eligible for Section 179?
Visit today and ask about which used Ford models in Tulare eligible for Section 179 deductions. Or, check out our new Ford inventory for models eligible in 2024, some of which include:
- Ford F-150
- Ford Super Duty®
- Ford Transit Cargo Van
- Ford Transit Passenger Wagon
- Ford Expedition
- Ford Explorer
New Ford Commercial Vehicles for Sale in Tulare
Ready to take advantage of the Section 179 tax deduction for your business? Visit our Ford dealer in Tulare today to explore our selection of eligible Ford vehicles. Contact Will Tiesiera Ford for more information or to schedule a consultation with our team. Let us help you drive your business forward with the best Ford for your needs while helping you maximize your tax savings.
Read More: Ford Financing Options | New Ford Specials
1Information accurate at date of publishing. Refer to https://www.section179.org for most up-to-date specifications.