Section 179 Tax Deduction Near Columbus, OH

Are you a small- to medium-sized business owner looking to grow your business? The team at Spikes Ford wants to help! Our local Ford dealer loves to show nearby business owners how they can take advantage of Section 179 when they purchase a Ford truck or van. Shop our inventory of commercial Ford vehicles and new Ford trucks to find exactly what you need. Then visit our Ford dealership near Weslaco and we’ll walk you through the Section 179 Deduction information and answer any questions you have. As a dedicated member of our community, we want to help small- to medium-sized businesses get the tools they need. Let us show you how you can write off up to 100% of the costs for qualifying vehicle purchases.¹ Make sure to put your new commercial van or truck into service before December 31, 2022, in order to qualify during the current tax year. Are you ready to get started? Visit Spikes Ford to learn more!

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.

The experts at our Southern Texas Ford dealer are eager to help small- or medium-sized business owners use the Section 179 Tax Deduction. We’ll show you all the qualifying vehicles, including other "non-SUV" vehicles and trucks with a cargo area at least six feet in interior length. Many passenger vehicles can also claim a partial deduction if used for business purposes at least 50% of the time. Passenger vehicle Section 179 deductions 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