Mission Valley Ford Trucks in San Jose, CA, is here to help your business leverage Section 179 tax deductions for commercial vehicle purchases. This tax code allows businesses to immediately deduct the full purchase price of qualifying equipment in the year it’s put into service, reducing taxable income quickly.
Maximize Tax Savings with Section 179 at Mission Valley Ford Trucks
Mission Valley Ford Trucks in San Jose, CA, is here to help your business leverage Section 179 tax deductions for commercial vehicle purchases. This tax code allows businesses to immediately deduct the full purchase price of qualifying equipment in the year it’s put into service, reducing taxable income quickly.
What is Section 179?
Section 179 lets businesses write off up to $1.16 million in 2023, with a spending limit of $2.89 million. This provision is ideal for companies investing in equipment like commercial vehicles. In California, however, limits differ: the deduction is capped at $25,000 with a spending cap of $200,000, and bonus depreciation isn’t available. Planning is essential to maximize deductions under California’s unique rules.
Special Incentives for Electric and Hybrid Vehicles
For businesses interested in Electric Vehicles (EVs) and Hybrid Electric Vehicles (HEVs), Section 179 offers additional advantages. Certain EVs and HEVs over 6,000 pounds qualify for the full deduction. Additionally, state and federal rebates can further lower costs, making these eco-friendly investments financially beneficial.
Qualifying Ford Models
At Mission Valley Ford Trucks, our Ford F-Series trucks (F-150 to F-550), Transit Vans, Expedition, and the electric F-150 Lightning meet Section 179 criteria, making them excellent choices for maximizing deductions and enhancing fleet capabilities.
Section 179 Updates for 2025
With bonus depreciation phasing out to 40% in 2025, the Section 179 deduction becomes even more valuable. Inflation adjustments may slightly raise federal limits, though California’s cap is set to remain at $25,000.
Contact Mission Valley Ford Trucks to explore our inventory and take advantage of Section 179 for your business. Our team is ready to guide you to the best vehicles for tax-saving benefits. Call us today to schedule a consultation!
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