Commercial Ford Tax Benefits in Baxley, GA

Unlock Your Commercial Tax Benefits on a Business Vehicle

Did you know many Ford vehicles qualify for significant tax advantages for your business, potentially saving thousands on your tax bill? At Woody Folsom Ford of Baxley, we regularly help business owners throughout Georgia, Florida, and Alabama maximize their savings. Our experts are well-versed in the latest regulations and can help you find the best vehicle. While we always suggest you speak to your tax accountant for specifics regarding your situation, we offer many cars that qualify for money-saving tax incentives and deductions. Don't miss out on this opportunity to put more money back in your pocket - let Woody Folsom Ford help you take full advantage of the tax benefits available for your business vehicle purchase.

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What Is Section 179?

Many tax benefits are available to businesses through the government, including deducting some of your capital business expenses from your tax bill. Thanks to the Section 179 tax benefit, you can save a ton of money on a brand-new Ford that will help your company grow.

Using Section 179, you can immediately deduct the entire cost of a business car, truck, or SUV from your gross income instead of depreciating it over time as required by IRS standards. The deduction limits are subject to an annual inflation adjustment and may change yearly.

Which Ford Vehicles Qualify for Section 179?

Ford vehicles with a gross vehicle weight rating (GVWR) between 6,000 and 14,000 pounds may qualify, such as: 
  • Ford F-150 (6.5-foot or 8-foot bed, specific models)
  • Ford F-150 Lightning
  • Ford F-150 Raptor
  • Ford Expedition / Expedition MAX
  • Ford F-250 Super Duty
  • Ford F-350 Super Duty
  • Ford F-450 Super Duty
  • Ford F-550 Super Duty
  • Ford Transit Cargo Van
  • Ford Transit Passenger Wagon

Has Section 179 Changed for the 2024 Tax Year?

Great news for businesses looking to invest in a new commercial Ford vehicle from Woody Folsom Ford! The Section 179 deduction limit for 2024 increased to $1,220,000 with a total equipment purchase limit of $3,050,000.This significant increase over the 2023 limits means even greater potential tax savings when you purchase your Super Duty for business use. Take this opportunity to deduct the total purchase price of your new truck and invest in the power and reliability your business needs.

Our team at Woody Folsom Ford is ready to help you navigate the details of the Section 179 deduction and ensure you maximize your tax benefits. Contact us today to explore how this deduction can work for you and find the perfect Super Duty for your business.

Bonus Depreciation: Accelerate Your Tax Savings on a New Ford Super Duty in 2024

While bonus depreciation, often used after reaching the Section 179 deduction limit, has been reduced from 80% in 2023 to 60% in 2024, it still offers significant savings. For instance, a $100,000 Super Duty purchase could qualify for a $60,000 bonus depreciation in 2024, with the remaining $40,000 depreciated over time.

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Don't Miss Out: Bonus Depreciation is Phasing Out

Keep in mind that bonus depreciation benefits are gradually decreasing:
  • 40% for vehicles placed in service in 2025
  • 20% for vehicles placed in service in 2026
  • 0% for vehicles placed in service in 2027 and beyond

Plan Your Purchase at Woody Folsom Ford to Maximize Commercial Tax Incentives

With these changes on the horizon, act now to maximize your potential tax savings on a new Ford Super Duty. Our team at Woody Folsom Ford can help you strategize your purchase to take full advantage of bonus depreciation and other available tax benefits. Contact us today to find the perfect Super Duty truck to meet your needs.