Under Section 179 of the IRS tax code, you could deduct up to 100 percent of the price of a new vehicle in Heber Springs. If your business wants to purchase new equipment, now is the time. Any vehicles or equipment put into service on or before December 31 qualifies for 2024 taxes.
Three Qualifying Categories
There are three qualifying categories for vehicles eligible for Section 179 deductions for businesses in Little Rock. Large trucks, cargo vans, and passenger vehicles seating over 10 with a gross vehicle weight rating over 6,000 pounds are eligible for up to 100 percent deductions. Other vehicles, such as short-bed trucks and SUVs with a GVWR, are eligible for up to a $30,500 deduction, plus up to 60% of the remaining purchase price and the standard depreciation deduction. Vehicles under 6,000 pounds GVWR are eligible for up to a $20,400 deduction.
100 Percent Eligible Ford Vehicles
The Ford Super Duty line is eligible for a Section 179 deduction. As is the lineup of Ford Transit vans. Other vehicles may be eligible for businesses in Mountain View; you would have to consult with your tax advisor for more information.
Vehicles Eligible for a $30,500 Deduction
The Ford F-150, Ford Expedition, and the Expedition MAX fall under this category for businesses in Searcy. Again, consulting with your tax advisor will give you more information.
Vehicles Eligible for a $20,400 Deduction
While some Ford vehicles may be eligible for this category for businesses in Morrilton, it is best to consult with your tax advisor again.
Visit Heartland Ford
If you plan on growing your business in Conway, Heartland Ford has the vehicles to help you get the job done. We have the inventory you want, from delivery vans to Super Duty trucks. Contact us today to schedule a test drive.