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Section 179 tax deduction benefits

How Can I Use Section 179?

Posted at Tue, Nov 24, 2020 1:30 PM

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Get A Tax Refund!

Did you buy a commercial vehicle for your business at some point this year? Then the team at Key Scales Ford is happy to tell you that you can enjoy Section 179 tax deduction benefits! Offered through the Internal Revenue Service (IRS), this amazing program allows your enterprise to claim up to $1,040,000* in credit for any new or pre-owned commercial automobiles, software, or equipment obtained throughout 2020. Using this refund is a fantastic method of expanding your business because you can reinvest that money into even more useful equipment or outstanding employees. If you haven’t yet purchased any of the items above, don’t worry because you have until the end of the year to partake in this great incentive and our diverse inventory of commercial vehicles. We want to help your venture reach all-new heights, so contact us with your Section 179 queries today!

What’s Involved

How Section 179 works is fairly straightforward. Any business that utilizes commercial vehicles — like the mighty Ford Super Duty F-350 or the reliable Ford Transit van — for more than 50% of the operation qualifies for this tax deduction. The final purchase price of qualified work vehicles or software, up to $1,040,000, bought in 2020 can be deducted from the gross income of your enterprise.

Section 179 tax deduction benefitsSection 179 tax deduction benefits

Another Section 179 tax deduction benefit is you can also add a 100% depreciation bonus on pre-owned or new commercial rides for all of 2020! Be sure to reach out to our financial experts for details about this before the end of the year.

Transform Your Business

Here at Key Scales Ford, we are standing by to assist you in experiencing the full benefits of the Section 179 tax deduction. You are welcome to browse through our selection of rugged Ford work trucks or sturdy commercial vans that can hold whatever supplies you need to achieve your projects. Don’t wait, you only have until the end of December to enjoy this wonderful incentive. Speak with our staff about Section 179 tax deduction benefits and elevate your business where it deserves to be!

Section 179 tax incentive

*See dealer or a tax professional for complete details.

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