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MUST ACT BY DECEMBER 31, 2017 TO GET DEDUCTION FOR THE 2017 TAX YEAR.

FAQ

What is IRS Section 179 & how can it help my bottom line?

  • Section 179 is the current IRS tax code that 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 from your gross taxable

Does the date of my purchase have an impact on the section179 deduction?

  • 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) qualify for the maximum first-year depreciation deduction of up to the FULL PURCHASE PRICE
  • SUVs, including 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) qualify for a maximum first year depreciation deduction of up to the first $25,000 of the full purchase price plus 60% depreciation of any remaining balance

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) qualify for the maximum first-year depreciation deduction of up to the FULL PURCHASE PRICE
  • SUVs, including 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) qualify for a maximum first year depreciation deduction of up to the first $25,000 of the full purchase price plus 60% depreciation of any remaining balance

What about smaller Trucks/Vans/SUVs?

  • Vehicles of less than 6,000 lbs. GVWR (built on a truck chassis), 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

Al Packer Ford is not affiliated with the IRS nor do we give tax advice. Please see your tax preparer for questions or visit the IRS website. https://www.irs.gov/publications/p946

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