Take Advantage of Section 179 Tax Deductions in Uvalde, TX
Are you a business owner looking for ways to optimize your tax refund? Our Ford dealership near Uvalde invites you to review the potential of Section 179 tax deductions in Texas. This IRS rule allows businesses to deduct a large portion of the purchase cost of qualifying vehicles.1
To claim Section 179 benefits for your 2023 taxes, your commercial Ford vehicle must be purchased and used by December 31, 2023. Visit Giffith Ford Uvalde to learn more about this tax savings opportunity and let us help you pick out a reliable new or pre-owned commercial Ford truck or van that could fit your business needs.
Section 179 Deduction Limits for 2023
Designed with small and medium businesses in mind, the Section 179 tax code comes with specific expense caps which can impact the total deduction possible. The stipulations for Section 179 deductions for 2023 include:
- 2023 Deduction Limit: $1,160,000 -- applicable to new and used equipment (must be new to the buyer).
- 2023 Bonus Depreciation: 80% -- valid for new and used equipment.
- Passenger vehicles (such as pickups or heavy SUVs) weighing more than 6,000 but less than 14,000 pounds can achieve a maximum first-year deduction of up to $28,900 in 2023.
Eligible Ford Models for Section 179 at Griffith Ford Uvalde
Many new Ford trucks, along with select used vehicles that meet Section 179 requirements, can qualify for this benefit. Remember, the vehicle must be new to you. Some Ford models that qualify for full or partial Section 179 tax deductions include:
- Ford F-450
- Ford Transit Passenger Wagon
- Ford Transit Cargo Van
Buy or Lease Commercial Ford Vehicles in Uvalde, TX
Eager to learn more about how these tax savings can make your Ford van or truck purchase more affordable? Talk to our Ford finance team when you contact Griffith Ford Uvalde today and find out just how much you could potentially save with the Section 179 tax deduction!
1 Information is accurate as of the publishing date. Refer to https://www.section179.org for the most recent updates