Ford Commercial Vehicle Deductions near Greenville, SC


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Recently, changes have been made to IRS Section 179. Now, small businesses can write off new equipment investments up to $500,000! This is a great tax benefit that can help you buy a new Ford and get a big write-off when you buy a new Ford commercial vehicle from our Ford dealership near Greenville, SC.

Small businesses can get up to the maximum 2017 tax deduction when they purchase a new Ford vehicle by December 31, 2017. Normally, small businesses spread these deductions over several years; but now, the tax benefits provided under IRS Section 179 allow many small businesses to write off up to $500,000 of qualifying new equipment in the first year it is placed in service.

To qualify, your commercial Ford vehicle must be used at least 50% for business, based on mileage, in the first year its placed in service. If you choose to use it for both personal and business use, the cost eligible for deduction would be the percentage used for business.

Frequently Asked Questions:

How can IRS Section 179 help my bottom line?

Section 179 allows you to buy qualifying Ford vehicles and deduct up to the full purchase price (including any amount financed) from your gross taxable income if purchased before December 31, 2017. That means that if you buy a piece of qualifying equipment and products, you may be able to write off up to the full purchase price!

Does the date of my purchase have an impact on the Section 179 deduction?

Yes! To qualify for the Section 179 tax deduction for the 2017 tax year, your Ford vehicle must be purchased or leased and placed into service by December 31, 2017.

How do I know if my business qualifies?

All businesses that purchase and/or finance less than $2,000,000 in business equipment during tax year 2017 should qualify for the Section 179 Deduction.

Which vehicles qualify for the greatest IRS tax savings?

  • Trucks with a GVWR greater than 6,000 lbs. and a bed length of at least six feet (i.e., Ford F-150/F-250/F-350 models)
  • SUVs and trucks with a bed length of less than six feet and a GVWR greater than 6,000 lbs. (i.e., Ford F-150 SuperCrew 5½ ft. bed, Explorer, Expedition models)

What about smaller trucks/vans/SUVs?

  • Vehicles of less than 6,000 lbs. GVWR, such as the Transit Connect, may still qualify under current bonus depreciation for up to $11,560 per vehicle in the first year.
  • Passenger automobiles under 6,000 lbs. GVWR also may qualify for up to $11,160 in depreciation.

For more information please refer to IRS.gov (Section 179 Deduction), consult a tax advisor or come and speak with the team at George Coleman Ford today!

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