Are you a small- to medium-sized business owner looking to grow your business? The team at Spikes Ford wants to help! Our local Ford dealer loves to show nearby business owners how they can take advantage of Section 179 when they purchase a Ford truck or van. Shop our inventory of commercial Ford vehicles and new Ford trucks to find exactly what you need. Then visit our Ford dealership near Weslaco and we’ll walk you through the Section 179 Deduction information and answer any questions you have.
As a dedicated member of our community, we want to help small- to medium-sized businesses get the tools they need. Let us show you how you can write off up to 100% of the costs for qualifying vehicle purchases.1 Make sure to put your new commercial van or truck into service before December 31, 2023, in order to qualify during the current tax year. Are you ready to get started? Visit Spikes Ford to learn more!
What Are the 2023 Section 179 Deduction Limits?
Given that the purpose of the Section 179 tax code is to help small- to medium-sized businesses, some spending caps are in place to shape how much a business can deduct.
The 2023 Section 179 Deduction limits are as follows:
- 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.
Which Ford Vehicles Qualify for Section 179?
Reach out to our Mission Ford dealer to compare new Ford trucks, vans and SUVs that qualify for full or partial tax deductions. We’ll help you get set up with the perfect vehicle for your needs. Some vehicles that qualify include:
- Ford F-150
- Ford Super Duty®
- Ford Transit
- Ford E-Transit
- Ford Explorer
- Ford Expedition
Do Used Trucks Qualify for Section 179?
Yes! Used Ford pickups, vans and other vehicles can qualify for the Section 179 tax deduction, and they’re a great option to consider. Ask our TX Ford dealer about our used Ford truck lineup that’s ideal for a rugged jobsite, or which pre-owned Ford vans are perfect for deliveries and other tasks.
Contact Spikes Ford today to learn more about how small- to medium-sized businesses can use Section 179 to aid business growth. We’re here for you every step of the way, and we’re excited to help local businesses succeed -- we’re all part of the same community and can help each other thrive!
1See dealer for details.