Section 179 Tax Deduction
2024 Ford Section 179 Tax Deduction in Bettendorf, IA
Looking to expand your business fleet while cutting down on your taxable income? Lindquist Ford in Bettendorf offers an impressive selection of new and pre-owned Ford trucks, cargo vans and commercial vehicles. With the 2024 Section 179 tax deduction, business owners like you can save significantly when purchasing vehicles for business use.
At Lindquist Ford, we’re committed to helping businesses in Bettendorf and across the Quad Cities find the perfect Ford vehicles that qualify for this valuable tax benefit. By taking advantage of the Section 179 deduction, your business can deduct up to 100% of the purchase price of qualifying vehicles, allowing you to reinvest those savings back into your operations.1
What Is the Section 179 Tax Deduction?
Section 179 is a tax code from the IRS that allows small businesses to deduct the cost of qualifying equipment, including vehicles used for business purposes. To qualify, the vehicle must be used for business at least 50% of the time.1 This deduction can significantly lower your taxable income.
To take advantage of the deduction for the 2024 tax year, the vehicle must be purchased and placed into service by December 31, 2024.1 If you’re ready to boost your business with a new Ford nearby, visit Lindquist Ford in Bettendorf today to explore your options.
Which Ford Vehicles Qualify for Section 179 in 2024?
A wide variety of new and used Ford models can qualify for the Section 179 deduction. Whether you need a dependable pickup, a spacious cargo van or a versatile SUV, Lindquist Ford has you covered.
Eligible vehicles include:
- Ford F-150
- Ford Super Duty®
- Ford Transit Cargo Van
- Ford Transit Passenger Wagon
- Ford Expedition
- Ford Explorer
- And more!
Ford vehicles over 6,000 pounds in gross vehicle weight rating (GVWR) may qualify for a full deduction, while others may offer partial deductions based on their weight and usage. Contact Lindquist Ford to find out which models meet the Section 179 requirements.
2024 Section 179 Tax Deduction Limits & Benefits
For 2024, businesses can deduct up to $1,220,000 through Section 179, with a total spending cap of $3,050,000.1 Once your total vehicle and equipment spending exceeds this limit, the deduction amount begins to phase out.
This tax incentive is designed to support small- and medium-sized businesses, providing substantial savings on essential equipment and vehicles. Our team at Lindquist Ford is here to help you navigate the Section 179 process, ensuring you maximize your tax savings. As always, consulting a tax professional is recommended for specific advice on your business’s eligibility.
Visit Lindquist Ford in Bettendorf, IA, for Commercial Vehicles
If you’re a Quad Cities business owner, stop by Lindquist Ford to shop our selection of commercial Ford vehicles. Whether you’re interested in the Ford F-150, Super Duty® or one of our Transit vans, we have the perfect vehicle for your business needs.
Take advantage of the 2024 Section 179 tax deduction and let us help you save this year!
Read More: 2024 Ford F-150 | Why Choose Us?
1 Information is accurate as of the publishing date. Please consult a tax expert or visit Section179.org for the latest details.