New Car Tax Breaks and Write-Offs for Business: IRS Section 179

You’re running a business and you’d like to save the most that you can. Fortunately with IRS Section 179, many business are able to expense the full purchase cost of several qualifying vehicles and up to $25,000 on other vehicles. Many Ram trucks and Ram vans are considered Section 179 property. During 2016, many qualifying businesses may expense up to $500,000 of Section 179 property, meaning huge savings for your business.

If you’re looking to upgrade your fleet or are interested in picking something up for your smaller business, see us today in Forest Lake, MN. Here are a list of vehicles by Ram that qualify.

May be expensed by up to $25,000 of the purchase cost in the first year:

  • RAM 1500 Crew Cab 5’7″ Box
  • RAM ProMaster City Cargo Van

May be expensed by up to 100% of the purchase cost in the first year (up to a $500,000 aggregate limitation):

  • RAM 1500 Reg Cab
  • RAM 1500 Quad Cab
  • RAM 1500 Crew Cab 6’4″ Box
  • RAM 2500
  • RAM 3500
  • RAM Chassis Cab 3500
  • RAM Chassis Cab 4500
  • RAM Chassis Cab 5500
  • RAM ProMaster 1500
  • RAM ProMaster 3500
  • RAM ProMaster 3500

Note: Tax situations are complex and frequently vary from one another. Please consult your accountant or tax lawyer for more information regarding your expenses.

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