AdChoices
Jeep & Ram Section 179 Tax Deduction
near Spokane, WA
Are you a small- or medium-sized business owner looking to expand your lineup of vehicles? There's no better way to save on your purchase than by taking advantage of the Section 179 tax deduction. With Section 179, you can write off up to 100% of qualifying vehicle purchases,1 so you can take your company's day-to-day operations to the next level. Stop by our Ram dealership near Spokane soon though, as you must buy your vehicle and put it into service by December 31, 2022, in order to claim this year's Section 179 deduction!
What Are the 2022 Section 179 Tax Deduction Limits?
- 2022 Deduction Limit: $1,080,0001 -- valid on new and used equipment (must be new to the buyer).
- 2022 Spending Cap: $2,700,0001 -- the max amount that can be spent on equipment before the Section 179 Tax Deduction begins to reduce on a dollar-for-dollar basis.
- 2022 Bonus Depreciation: 100%1 -- generally taken after the Spending Cap is reached, valid on new and used equipment.
The Section 179 tax deduction allows businesses to write off up to 100% of expenditures for qualifying models1 -- these include "non-SUV" vehicles with a cargo area at least six feet in length. Plus, many passenger vehicles are eligible for a partial deduction if used for business purposes at least 50% of the time. Limitations on passenger vehicle Section 179 deductions include:
- Cars: $11,160 (including Bonus Depreciation)1
- Trucks & Vans: $11,560 (including Bonus Depreciation)1
- Certain SUVs between 6,000-14,000 pounds: $25,000 (including Bonus Depreciation)1
Which Vehicles Qualify for Section 179?
We have many new Ram trucks near Spokane that qualify for the Section 179 tax deduction, as well as Jeep SUVs, WAGONEER models and more. Check out the list of qualifying vehicles below:
- Ram 1500
- Ram 2500
- Ram 3500
- Ram Chassis Cab
- Ram ProMaster®
- Ram ProMaster City®
- Jeep Gladiator
- Jeep Grand Cherokee
- Jeep Grand Cherokee WK
- Jeep Grand Cherokee 4xe
- Jeep Wrangler
- Wagoneer
- Grand Wagoneer
Does Section 179 Apply to Used Trucks & SUVs?
Yes, you can save on a used Jeep SUV or Ram truck with Section 179 tax deductions. What matters is that the pre-owned Jeep or Ram is "new to you" and your business, and not a completely new model. We have many used commercial vehicles for sale in Kellogg that would be a perfect match for your business's needs, so don't hesitate to shop our selection of HD trucks, work vans and more!
1 See dealer for details.