Elevate your small business to impressive new heights with a commercial vehicle from Ver Hoef Chrysler Dodge Jeep Ram. Our Jeep and Ram dealership near Le Mars is proud to feature a diverse selection of trucks, SUVs and vans that are prime candidates for the Section 179 tax deduction.
What is Section 179? This incentive lets you deduct up to the full purchase price of a qualifying vehicle purchase on your 2023 taxes. Ensure your business capitalizes on this opportunity by buying and putting your vehicle into service before December 31, 2023. Get in touch with us now to set the stage for growing your business!
Shop our selection of jobsite-ready Ram 2500 trucks or consider investing in a new Jeep Gladiator, just two of the many commercial-grade models on our lot that are eligible for a Section 179 tax break. Propel your business forward by stopping in at Ver Hoef Chrysler Dodge Jeep Ram in Sioux Center today -- we’ll help you navigate our extensive online selection and locate the vehicle that resonates with your business needs.
What Are the 2023 Section 179 Limits?
The Section 179 tax deduction exists for small- to medium-sized businesses, crafted with the intention of lightening the financial load that comes with purchasing vehicles. This tax provision has set defined parameters to ensure it caters to its target audience.
For the current year, the deduction limits and specifics include:1
- 2023 Section 179 Deduction Limit: $1,160,000 -- applicable to both new and pre-owned equipment, provided the equipment is new to you.
- 2023 Bonus Depreciation: 80% -- valid for new and used equipment.
- Passenger Vehicles Deduction Cap: Vehicles such as pickups and heavy SUVs weighing between 6,000 and 14,000 pounds may be eligible for a maximum first-year deduction of $28,900.
Vehicles Eligible for Section 179
The eligible new Ram trucks and other vehicles that you may be able to claim Section 179 tax savings on include:
- Chrysler Pacifica
- Dodge Durango
- Dodge Grand Caravan
- Jeep Grand Cherokee
- Jeep Grand Cherokee L
- Jeep Wrangler Unlimited
- Jeep Gladiator Rubicon
- Ram 1500
- Ram 2500
- Ram 3500
- Ram ProMaster®
Ram Commercial Vehicles in Sioux Center, IA
If you're curious to learn more about which Ram models and other vehicles are eligible for the Section 179 deduction, or if you're ready to schedule a test-drive, don't hesitate to contact Ver Hoef Chrysler Dodge Jeep Ram. Our dedicated commercial vehicle center stands as a resource for top-quality trucks, flexible fleet vans and exceptional offers. Take advantage of the Section 179 tax savings today!
1 Information accurate at the time of publishing. Refer to https://www.section179.org for the most current specifics.