Ford Section 179 Tax Savings near Lecanto, FL

2023 Ford E-Transit™ parked in driveway with woman standing near it

Ford Section 179 Tax Savings
near Lecanto, FL

As we approach the end of the year, small-business owners may be considering upgrading the fleet for their company. When you buy a Ford truck, SUV or commercial van for work, it may be eligible for Section 179 tax savings. What is the Section 179 tax code? It was created by the U.S. government to help businesses invest in themselves. When you buy a new, used or Certified Pre-Owned Ford at our Ford dealership near Lecanto, you can write off up to the full purchase price on your 2022 taxes thanks to the Section 179 tax code. Learn about Section 179 limits and what vehicles are eligible when you schedule a test-drive with us!

What Are the 2022 Section 179 Deduction Limits?

The 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.

If you're a local business in Florida, you can write off up to 100% of the purchase price of your vehicle when you buy a new Ford or pre-owned vehicle. Section 179 tax deductions can include:

  • 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

Which Ford Vehicles Does Section 179 Apply To?

Not every car is eligible for Section 179 tax savings, but many vehicles in the Ford lineup are. Ask our sales experts about which vehicles qualify for the full or partial Section 179 tax incentive. Ford models eligible for Section 179 tax incentives include:

  • Ford F-150
  • Ford Super Duty®
  • Ford Transit
  • Ford E-Transit
  • Ford Explorer
  • Ford Expedition