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Buy a Ford Commercial Truck with the Section 179 Tax Code
Thanks to new guidelines under the IRS Section 179 tax code, many small businesses that invest in new Ford Trucks can now write off up to $500,000 of these purchases on their 2017 IRS tax returns. Normally, business spread these deductions over several years. But now, with the tax benefits provided under IRS Section 179, many small businesses can write off up to the entire purchase cost of one or more qualifying new Ford trucks or vans. Again, that's up to $500,000 worth, all in the first year they're placed in service.
Now is a Great Time to Buy at Stanley Ford!
In addition to the significant tax savings opportunities above, you can also take advantage of current promotions3, plus any applicable Customer Cash offers3. It really is an incredible time to buy.
Deduct up to the entire purchase cost on your 2017 IRS Tax Return.1
Deduct up to the entire purchase cost on your 2017 IRS Tax Return.1
Deduct up to $11,560 on your 2017 IRS Tax Return.1
Tax Treatment
Up to 100% of the purchase cost in the first year 1,2 (plus any remaining basis using MACRS method)
Up to $25,000 of the purchase cost in the first year 1,2 (plus any remaining basis using MACRS method)
Up to $11,560 in the first year 3 (plus any remaining basis using MACRS method)
Up to $11,160 in the first year 3 (plus any remaining basis using MACRS method)
Applies To:
Trucks and Cargo Vans over 6,000 lbs. GVWR
Passenger Trucks/Vans and SUVs over 6,000 lbs. GVWR
Trucks and Cargo Vans under 6,000 lbs. GVWR
Passenger Automobiles under 6,000 lbs. GVWR
Eligible New Ford Vehicles
F-150 (6.5-ft. or 8-ft. bed), F-250/F-350 Super Duty®, Transit Van
Expedition, F-150 SuperCrew® (5.5-ft. or 6.5-ft. bed), Transit Wagon
Transit Connect Van, Transit Connect Wagon
Edge, Flex, Escape, Focus, Explorer, Fusion, Fiesta, Taurus
Important Information
Hurry! You must act by December 21, 2017 to get your deduction for the 2017 tax year!
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 31st, 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.
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 FULL PURCHASE PRICE. SUVs, including trucks, with a bed length of less than six feet (i.e. Ford F-150 SuperCrew 5 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.
The qualifying vehicle must be purchased and placed into service between January 1, 2017 and December 31, 2017. It must be used at least 50% for business, based on mileage, in the first year it is placed in service. So if you choose to use it for both personal and business use, the cost eligible for the deduction would be the percentage used for business. Please note that all businesses that purchase and/or financed less than $2 million in business equipment during tax year 2017 should qualify for the Section 179 deduction.
THE FINE PRINT
NOTE: The information supplied here is provided by your local Ford Dealer as a public service to its customers. It should not be construed as tax advise or as a promise of potential tax savings or reduced tax liability, individual tax situations may vary. Federal rules and tax guidelines are subject to change. For more information about the Section 179 expense write-off or other business vehicle expense write-offs, you should consult your tax advisor for complete rules applicable to your transaction and visit the Internal Revenue Website at www.irs.gov
1. This analysis applied only to vehicles placed in service in the United States after December 31, 2015 and by December 31, 2017 with no written binding contract for acquisition in effect before January 1, 2018. The aggregate deduction of $500,000 under Internal Revenue Code Section 179 is most beneficial to small businesses that place in service less than $2,000,000 of "Section 179 property" during the year (vehicles and other business property).
2. IRS Section 280F(d)(7(B) requires that the limitation under IRS Section 280F(a)(1) be adjusted annually, based on the CPI automobile component for October of the preceding year. The IRS officially announced the Section 280F depreciation limits in Revenue Procedure 2017-23. The passenger automobile imitation is $11,160, the trucks/vans under 6,000 lbs. limitation is $11,560. SUV's over 6,000 lbs. GVWR are limited to a deduction of $25,000 under Section 179(b)(5) with the remaining basis in the vehicle depreciation under normal MACRS methods. The expensing restrictions under Section 280F do not apply to vehicles that are considered to be "qualified non-personal use vehicles" (QNUVs). A QNUV is generally a vehicle that, by virtue of its nature or design, it snot likely to be used more than a minimal amount for personal purposes. For more information, see Income Tax Reg. Sec. 1.280F-6(c)(3)(iii), Income Tax Reg. Sec. 1.274-5T(k), and Revenue Ruling 86-97, and contact your tax advisor for details. Consult your tax advisor as to the proper tax treatment of all business-vehicle purchases.
3. All prices exclude tax, title and registration and document fees. Not all buyers will qualify for all offers. Above total savings are examples of specific vehicles; total savings varies by vehicle. Available at participating dealers only. For all offers, take new retail delivery from dealer stock by 12/31/2017. See dealer for qualifications and complete details. All incentives were correct at the time of printing and are subject to change and any time. Models shown may not represent actual vehicle description listed, and therefore may include additional features and/or accessories.