BUY A NEW FORD AND GET A TAX WRITE-OFF
CHECK OUT THE NEW SECTION 179 GUIDELINES ANNOUNCED FOR 2019!
WHAT’S THE URGENCY?
For the 2019 tax year, the qualifying vehicle must be purchased and placed into service by December 31, 2019 visit the Internal Revenue Service website at www.irs.gov.
NOW IS A GREAT TIME TO BUY!
In addition to the potential tax savings opportunities above, you could also take advantage of any current incentives you would normally qualify for. As a small business owner, it could really be an incredible time to buy.
- FORD TRANSIT CARGO VAN
Deduct up to the entire purchase cost on your 2019 IRS tax return*
(Applies to Trucks, with 6-ft. or longer bed length, and Cargo Vans rated over 6,000 lbs. GVWR) - FORD TRANSIT WAGON
Deduct up to $25,000 in the first year*
Plus 100% Bonus Depreciation on any remaining balance, retroactive to 9/27/17 and good through 2022.
(Applies to Trucks, Vans and SUVs rated less than 6,000 lbs. GVWR) - FORD TRANSIT CONNECT CARGO VAN AND/OR WAGON
Deduct up to $11,760 in the first year*
Plus 100% Bonus Depreciation on any remaining balance, retroactive to 9/27/17 and good through 2022.
(Applies to Trucks, Vans and SUVs rated less than 6,000 lbs. GVWR) - FORD SUPER DUTY®
Deduct up to the entire purchase cost on your 2019 IRS tax return*
(Applies to Trucks, with 6-ft. or longer bed length, and Cargo Vans rated over 6,000 lbs. GVWR) - FORD MEDIUM DUTY
Deduct up to the entire purchase cost on your 2019 IRS tax return*
(Applies to Trucks, with 6-ft. or longer bed length, and Cargo Vans rated over 6,000 lbs. GVWR)
Earn Yourself A Potential Tax Break When You Buy A New Ford Commercial Vehicle
2019 Deduction Limit – $1,000,000
This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for tax year 2019, the equipment must be financed/purchased and put into service between January 1, 2019 and the end of the day on December 31, 2019
2019 Spending Cap on Equipment Purchases – $2,500,000
This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true “small business tax incentive” (because larger businesses that spend more than $3.5 million on equipment won’t get the deduction.)
Bonus Depreciation: 100% for 2019
Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. Further, the bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022.