Section 179 Tax Deduction

Are you looking to give your small business a boost? Make your everyday operations more efficient and seamless with a new or used commercial truck or van from All American Ford of Paramus. Not only does our Ford dealership near Newark supply a wide selection of HD trucks, vans and more, but also, can match you with the Section 179 tax incentive to help you save on your purchase. This exclusive tax deduction aims to aid small- and medium-sized businesses by making certain business-use vehicles eligible for either full or partial tax write-offs.

However, you must buy your vehicle and place it into service no later than December 31, 2023, to qualify for Section 179 this year!¹ Reach out to the experts at All American Ford of Paramus for more information.

What Are the 2023 Section 179 Deduction Limits?

The Section 179 tax deduction was created by the IRS to help small- and medium-sized businesses expand their fleet of vehicles while saving on operating costs. Under Section 179, commercial-use vehicles are eligible for varying levels of deductions based on weight and other criteria. The limits on the 2023 Section 179 tax deduction include: 

• 2023 Deduction Limit: $1,160,000 -- applicable for new and used equipment (must be new to the purchaser).¹
• 2023 Bonus Depreciation: 80% -- valid for new and used equipment.¹
• Passenger vehicles (including pickups or heavy SUVs) weighing between 6,000 and 14,000 pounds, are eligible for a maximum first-year deduction of up to $28,900 in 2023.H2¹

Which Ford Models Qualify for Section 179?

Many different new Ford models and used vehicles are eligible for Section 179. What matters is that the qualifying vehicle is new to you when you purchaseit. Ford vehicles eligible for full or partial tax deductions include:

• Ford Expedition
• Ford Expedition MAX
• Ford F-250
• Ford F-350
• Ford F-450
• Ford F-550 S
• Ford Transit Cargo Van
• Ford Transit Passenger Wagon