Section 179 and 168 Tax Deductions for 2024
Invest in your business today with tax advantages using Section 179 and Section 168 tax deductions. With this year's tax deductions, you can take up to the full purchase price of eligible Ram and Jeep vehicles as a deduction on your 2024 tax return. Learn more about available tax incentives and how you can make the most of your business with capable vehicles designed to upgrade your operations.
Deduct Up to 100 Percent of the Purchase Price with Section 179
Certain vehicles are eligible for up to a 100 percent deduction of the purchase price depending on the vehicle's weight, configuration, or special modifications. As long as you purchase the vehicle, place it into service, and use the vehicle for business purposes at least 50 percent of the time before December 31, 2024, you could deduct the full purchase price of the following vehicles on this year's tax return:
- Ram 1500
- Ram 1500 Classic
- Ram 2500 and 3500
- Ram 3500, 4500, and 5500 Chassis Cab
- Ram ProMaster®
Deduct an Additional 60 Percent with Section 168
Section 168 allows businesses to deduct bonus depreciation. This benefit is currently being phased out by 20 percent each year until the program sunsets on December 31, 2026. This year, you can take up to 100 percent of the purchase price for eligible vehicles or claim 60 percent bonus depreciation on vehicles eligible for a partial deduction.
ÂContact Nelson Auto Center and Leverage Your Tax Savings Today
There is no need to wait or use complicated depreciation calculators to make your next commercial or fleet vehicle more affordable. Section 179 and Section 168 offer significant tax advantages for small to medium businesses like yours so you can purchase the equipment you need today. Contact Nelson Auto Center today to learn more.
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Nelson Auto Center CDJR
2228 College Way
Fergus Falls, MN 56537-1062
- Sales: 2184295669
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