Tax savings are a significant consideration when buying a vehicle for your business. One popular tax incentive is Section 179, which allows businesses to deduct the full or partial purchase price of qualifying equipment, including vehicles, in the year they are purchased. But what about used Ford trucks? O’Brien Ford of Shelbyville answers this common question.
Used Ford Trucks Are Eligible for Section 179
The good news is that both new and used Ford trucks qualify for the Section 179 deduction as long as the truck is being used for business purposes and meets the eligibility requirements. If you’re considering a reliable, high-performing used Ford truck for your business fleet, you may be able to take advantage of substantial tax savings.
Eligibility Requirements for Section 179
To qualify under Section 179, a used Ford truck must be used for business at least 50% of the time. Additionally, there are weight requirements — vehicles with a gross vehicle weight rating (GVWR) of over 6,000 lbs, such as the Ford F-150 or Ford F-250, which often qualify for the full deduction. This can be a great way to offset the cost of your purchase while getting the heavy-duty performance you need.
Immediate Tax Relief for Your Business
Another advantage of using Section 179 for your business truck purchase is that the deduction applies in the year the vehicle is put into service, freeing up capital. This means that if you purchase and start using a used Ford truck before the end of the tax year, you can apply the deduction to your current year’s taxes.
Get Your Next Used Ford Truck in Shelbyville, KY
If you’re looking for a dependable used Ford truck that qualifies for the Section 179 deduction, we invite you to visit O’Brien Ford of Shelbyville. Our team can help you find the perfect truck for your business and walk you through the details of Section 179 to ensure you’re maximizing your tax benefits. Contact us today or stop by the dealership to explore our extensive inventory!
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