Section 179 Tax Savings Near Evansville IN

Section 179 of the U.S. tax code is designed to offer growing businesses in Jasper a leg up. By letting your business deduct up to the full amount of new equipment, you can save money by purchasing a new work vehicle.

Which Vehicles for Sale in Washington are eligible in 2024?

Most Ford trucks, SUVs, and vans are eligible for Section 179 deductions in 2024. At Ruxer Ford, we understand running a business is a lot of work. When you need your work vehicle to get you there, we appreciate that you depend on us to help you purchase that vehicle. To qualify for a Section 179 deduction, the vehicle must be used 50 percent of the time for work and put into service before December 31, 2024. Here is a list of some eligible vehicles available around French Lick in Ruxer Ford's inventory:

• Ford F-150
• Ford Super Duty
• Ford Explorer
• Ford Expedition
• Ford Transit
• Ford Transit Connect

What is Section 179

IRS tax code section 179 allows businesses to deduct the cost of qualifying vehicles and equipment purchased during that tax year.

Section 179 Restrictions

There are a few restrictions regarding which vehicles can be deducted. First, the vehicle must be purchased or financed under the company name, not an individual. The Vehicle must be used for business at least 50 percent of the time. A vehicle that has been used previously for personal use in Petersburg cannot be transferred over for business use and then used as a Section 179 deduction.