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Ford Section 179 Deduction

Invest in your business and upgrade your fleet when you take advantage of Section 179 tax savings at our Ford dealership near Marion. You may be wondering, what is Section 179? This tax deduction can help you deduct the purchase price of the new Ford model that will take your business to new heights. Whether a new F-150 or Super Duty® would be best for your company, or you'd like to buy a used Ford SUV, you can find your perfect match at Lynch Ford. Please note that you must purchase the vehicle by December 31, 2022, and use it for business purposes at least 50% of the time to qualify for the Section 179 tax incentive. For more information about this tax deduction, please meet with our Ford financing experts today.

What Are the 2022 Section 179 Deduction Limits?

When you decide to buy a new Ford or used commercial vehicle anytime during the 2022 tax year, you'll be eligible to claim the Section 179 tax deduction. The aggregate 2022 Section 179 Deduction limits are as follows:

  • 2022 Deduction Limit: $1,080,0001 -- valid on new and used equipment (must be new to the buyer).
  • 2022 Spending Cap: $2,700,0001 -- the max amount that can be spent on equipment before the Section 179 Tax Deduction begins to reduce on a dollar-for-dollar basis.
  • 2022 Bonus Depreciation: 100%1 -- generally taken after the Spending Cap is reached, valid on new and used equipment.

It's also important to note that different vehicle types result in different tax treatment under Section 179. For 2022, Section 179 tax deductions on a per-vehicle basis are as follows:

  • Cars: $11,160 (including Bonus Depreciation)1
  • Trucks & Vans: $11,560 (including Bonus Depreciation)1
  • Certain SUVs between 6,000-14,000 pounds: $25,000 (including Bonus Depreciation)1

Do Used Vehicles Qualify for Section 179?

Yes! Used Ford trucks, vans and other pre-owned vehicles for sale at our Mount Vernon Ford dealer can qualify for the Section 179 tax deduction. The key is that the vehicle is new to you and used for business purposes at least 50% of the time. Hurry over to Lynch Ford to browse our pre-owned inventory and find the ideal vehicle for your business needs.

Which Ford Vehicles Does Section 179 Apply To?

Not every new Ford for sale is eligible for Section 179 tax savings, but there are a wide variety of vehicles that qualify. New and pre-owned Ford models eligible for Section 179 tax incentives include:

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