Ford Section 179 Tax Deduction
For high-quality commercial trucks, cargo vans and other work vehicles for sale at great prices, turn to the pros at our Ford dealer near Lexington. Thanks to the Section 179 tax deduction, your small- or medium-sized business may be able to deduct up to 100% of the costs of vehicles purchased and used for company purposes.1 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, 2023.
To gather more information on Ford EV incentives and other potential commercial vehicle specials, don't hesitate to reach out to the experts at Dutch's Ford. We'll match you with new Ford truck sales and commercial vans in Kentucky that are perfect for the job!
What Are the Section 179 Tax Deduction Limits for 2023?
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 2023 Section 179 limits are:
- 2023 Deduction Limit: $1,160,000 -- valid on new and used equipment (must be new to the buyer). 1
- 2023 Spending Cap: $4,050,000 -- the max amount that can be spent on equipment before the Section 179 tax deduction begins to reduce on a dollar-for-dollar basis.1
- 2023 Bonus Depreciation: 80% -- generally taken after the Spending Cap is reached (valid on new and used equipment).1
Which Ford Vehicles Are Eligible for Section 179?
New and used Ford models eligible for Section 179 deductions in 2023 include:
- Ford F-150
- Ford F-150 Lightning
- Ford Super Duty®
- Ford Transit
- Ford Transit Connect
- Ford E-Transit
- Ford Explorer
- Ford Expedition
Ford Commercial Vehicles in Mt. Sterling, KY
Shopping for an affordable new passenger van or Ford truck for sale in Kentucky is easier than ever when you shop at Dutch's Ford. Whether you're curious about Section 179 tax deductions, Ford commercial vehicle sales or other details, reach out to our staff and we'll provide a full walkthrough. You can contact Dutch's Ford if you have more questions about Ford tax incentives, commercial truck offers and so much more!
1Information accurate at date of publishing. Refer to https://www.section179.org for most up-to-date specifications.