Commercial Tax Deductions

THE DETAILS

Now is the time to purchase the additional vehicle(s) needed for your business. Current tax regulations may allow you to expense up to 100% of your truck purchase(s) during the first year of ownership.

SECTION 179 FIRST YEAR EXPENSING

A Ram truck is generally considered Section 179 property for U.S. Federal Income Tax purposes. A taxpayer may elect to treat the cost of any Section 179 property as an expense, and it is allowed as a deduction for the taxable year in which the property is placed in service. A qualifying business may expense up to $1,000,000 of Section 179 property during 2020.

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