Section 179 Tax Savings

Maximize Your Tax Savings with Section 179 Deduction on Ram ProMaster Vans and Trucks

As a business owner, you're always looking for ways to save money and reduce your tax burden. One of the best ways to do that is by taking advantage of Section 179 of the IRS tax code. This valuable deduction allows you to write off the full purchase price of qualifying equipment and vehicles in the year they're placed into service, rather than depreciating them over several years. This can provide significant tax savings and improve your bottom line.

At Jim Manning Dodge Chrysler Jeep in Dinuba, we specialize in commercial vehicles that qualify for Section 179, including new Ram Promaster vans and heavy-duty trucks. These versatile and reliable vehicles are perfect for a wide range of businesses, from Selma contractors and delivery services to caterers and mobile pet groomers. With a Ram ProMaster or heavy-duty truck, you can take your Bakersfield business to the next level while enjoying substantial tax savings.

What Qualifies for Section 179?

To qualify for the Section 179 deduction, the vehicle or equipment must be used for business purposes more than 50 percent of the time and put into service during the tax year. This includes purchasing, financing, or leasing the vehicle. The maximum deduction for 2023 is $1,160,000, with a spending cap of $2,700,000. This means that if you purchase a qualifying Ram ProMaster van for $50,000 and use it 100 % for business, you can deduct the entire $50,000 from your taxable income for the year.

Many Fresno businesses are turning to Ram ProMaster vans to streamline their operations and reduce costs. With a variety of configurations and upfitting options, these vans can be customized to meet the specific needs of your business. Whether you need a cargo van for deliveries, a passenger van for transportation services, or a chassis cab for a specialized upfit, there's a Ram ProMaster that's right for you.

Heavy Duty Trucks Offer Even More Savings

For businesses that require even more hauling power and capability, heavy-duty trucks like the Ram 2500 and 3500 are also eligible for Section 179. These rugged workhorses offer best-in-class towing and payload capacities, along with advanced safety and connectivity features. With a heavy-duty truck, you can tackle even the toughest jobs with confidence, while writing off the full purchase price on your taxes.

Visalia businesses know that investing in a reliable commercial vehicle is essential for success. That's why so many choose Ram trucks and vans from Jim Manning Dodge Chrysler Jeep. Our staff can help you find the vehicle that benefits your fleet. Let our experienced finance team assist with securing the best financing or lease terms to benefit your Hanford business. We make it easy to get behind the wheel of a new Ram ProMaster or heavy-duty truck and start saving on your taxes.

Act Now to Maximize Your Savings

If you're looking to purchase a new commercial vehicle this year, now is the time to act. The Section 179 deduction is set to expire at the end of 2023, so you'll need to put your vehicle into service before December 31st to qualify. Don't miss out on this opportunity to save big on your taxes and invest in your business's future.

At Jim Manning Dodge Chrysler Jeep, we have a wide selection of new commercial inventory, including Ram ProMaster vans and heavy-duty trucks. Visit us today to explore your options and take advantage of the Section 179 tax deduction before it's too late. Your business will thank you.