At Mullinax, we’re always looking for ways to help our customers save. That’s why we want to be sure our customers are aware of the updated guidelines to the IRS Section 179 tax code, which can help drivers who need new cars or trucks for business purposes save tens of thousands of dollars in taxes.
Designed by the U.S. government to help small businesses invest in themselves, the Section 179 tax code is perfect for both small businesses looking to expand their fleets and for individual drivers looking to purchase new vehicles they will use for business purposes at least 50% of the time. Many of the most popular models on our lot – including the Ford F-150, Ford F-250 and Ford F-350 – can be eligible for Section 179 write-offs under the right circumstances, so make sure you understand how Section 179 can help you save. Then, explore the unrivaled selection of Ford trucks, vans and SUVs at our Ford dealership near Orlando, FL!
Different Ford trucks, vans, SUVs and even passenger cars can qualify for Section 179 tax savings depending on their weight, size, and how often you plan on using them for business purposes.
Ford trucks and cargo vans with a GVWR of more than 6,000 lbs. and a bed length of at least six feet – including some Ford F-150 trucks, some Ford Super Duty trucks, and some Ford Transit Van configurations –can qualify for the maximum first‑year depreciation deduction of up to the full purchase price!
Other SUVs and trucks with a bed length of less than six feet and a GVWR greater than 6,000 pounds – like smaller Ford F-150 trucks, the Ford Explorer and the Ford Expedition – can qualify for a maximum first year depreciation deduction of up to $25,000 of the full purchase price, plus 60% depreciation on any remaining balance.
Additionally, some Ford trucks and cargo vans under 6,000 GVWR can be eligible for write-offs up to $11,560 in the first year, while some Ford passenger cars under 6,000 GVWR can be eligible for write-offs up to $11,160 in the first year.
We understand the Section 179 tax rules can be confusing. If you’re not sure if the new Ford you want qualifies, know that our staff has experience helping thousands of drivers like you take advantage of this tax code, and we’re happy to answer any of your questions. We want to help!
The two most important Section 179 tax rules to know are that any qualifying vehicles must be purchased and placed into service between January 1, 2019, and December 31, 2019, and any qualifying vehicles must be used at least 50% for business, based on mileage, in the first year placed in service.
Also, be aware that if you choose to buy a new Ford for both personal and business use, the cost eligible for the deduction is limited to the percentage you use your new vehicle for business purposes. Otherwise, all businesses that purchase and/or finance less than $2.5 million in business equipment during tax year 2019 should qualify for the Section 179 deduction.
Florida’s largest inventory of Ford models! Plus, our Up Front® Pricing and transparent, no-hassle sales policies make it easier than ever for you to save big on a new Ford truck, van or SUV, all while enjoying the car-buying process. We love helping our customers save, and Section 179 gives us an easy way to help them to do so!