179 Tax Deduction

Buy A New Ford & GET A BIG WRITE-OFF

Thanks to new guidelines under the IRS Section 179 tax code, many small businesses that invest in new equipment can now write off up to $1,000,000 of these new purchases on their 2018 IRS tax returns. Normally, businesses 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 $1,000,000 worth, all in the first year they're placed in service.

Tax Benefit Examples for Qualifying Businesses


Tax Treatment:Applies To:Eligible Vehicles:
Up to 100% of the purchase cost in the first year* (Plus any remaining basis using MACRS method)Trucks and Cargo Vans over 6,000 lbs.GVWRF-150 (6.5-ft. or 8-ft. Bed) F-250/350 Super Duty and Transit Van
Up to $25,000 of the purchase cost in the first year* (Plus any remaining basis using MACRS method)Passenger Trucks/Vans and SUVs over 6,000 lbs. GVWRExpedition, F-150 SuperCrew (5.5-ft. or 6.5-ft Bed), Transit Wagon
Up to $11,560 in the first year* (Plus any remaining basis using MACRS method)Trucks and Cargo Vans under 6,000 lbs. GVWRTransit Connect Van and Transit Connect Wagon
Up to $11,160 in the first year* (Plus any remaining basis using MACRS method)Passenger Automobiles under 6,000 lbs. GVWREdge, Flex, Escape, Focus, Explorer, Fusion, Fiesta and Taurus.

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, 2018. 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 income this year!

Which Vehicles Qualify For 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 5.5 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.

Is There A Catch?

The qualifying vehicle must be purchased and placed into service between January 1, 2018, and December 31, 2018. 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 finance less than $2.5 million in business equipment during tax year 2018 should qualify for the Section 179 deduction.

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