For business owners and entrepreneurs alike, having a fleet of vehicles that's both versatile and reliable is essential for success. At Ford of Corinth, we understand the importance of this need and take pride in providing an expansive range of commercial Ford vehicles, from hardworking trucks to versatile vans and sturdy SUVs.
Best of all? Your business may be able to save on these Ford commercial vehicles by taking advantage of the Section 179 tax deduction. This tax deduction is designed to help small and medium-sized businesses deduct up to 100% of vehicles purchased for business purposes. It's important to note, however, that to take advantage of this tax relief opportunity, your purchased vehicle must be put into service by December 31, 2024.
Don't miss out -- drop by our Ford dealership near Tupelo today to discover how leveraging the 2024 Section 179 tax deduction can contribute substantially to your business savings!
2024 Section 179 Tax Deduction Overview
Designed to support the growth of small and midsized businesses, the Section 179 tax deduction presents an opportunity for significant savings on both new Ford models and pre-owned vehicles that are primarily used for business activities -- what's most important is that the vehicle is new to you. This incentive can make a considerable difference for companies aiming to enhance their operations with a reliable fleet.
Here are the Section 179 deduction caps set for 2024:
- 2024 Deduction Limit: $1,220,000 -- applicable for new and used equipment (must be new to the purchaser).1
- 2024 Bonus Depreciation: 60% -- valid for new and used equipment.1
- Passenger vehicles (including pickups or heavy SUVs) weighing between 6,000 and 14,000 pounds, are eligible for a maximum first-year deduction of up to $30,500 in 2024.H21
Eligible Section 179 Ford Vehicles
Many single-use vehicles are eligible for full Section 179 deductions, but what about traditional passenger vehicles? Does the Ford F-150 qualify for Section 179? What about the Bronco or the Explorer? Passenger vehicles are often eligible for partial deductions depending on the percentage they're used for business. Eligible Ford models for full and partial deductions include:1
- Ford F-150
- Ford Super Duty®
- Ford Transit Cargo Van
- Ford Transit Passenger Wagon
- Ford Expedition
- Ford Explorer
- Other Ford trucks, vans, and SUVs
Commercial Ford Sales Near Me
If you're in the market to upgrade your commercial fleet with robust vehicles like the new Ford Super Duty® or Expedition, look no further than Ford of Corinth. Our Mississippi Ford dealership boasts an impressive selection of cargo vans ideal for delivery services and heavy-duty trucks designed for towing and hauling tasks.
Hurry in to claim the latest additions to your Ford fleet and put them into service by year's end to claim the 2024 Section 179 tax deduction!
More Resources:Ford Truck Portal
1 Information accurate as of publishing date. Please consult https://www.section179.org for the most up-to-date details.