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Up to $7,500 potential Federal Tax Credit on certain F-150 Lighting models. Reductions likely for certain vehicles in 2023. Eligibility Details

What is the Section 179 Tax Deduction?

Section 179 Tax Deduction in Alpharetta, GA

Are you a small business owner? Then you may have heard about the Section 179 Tax Deduction, which could benefit you and your business this year. Here at Angela Krause Ford, we're proud of our extensive lineup of American-made vehicles, and we'd love to supply your business with the vehicles that it needs. We want to give you an overview of Section 179 of the IRS tax code for 2022 and hope that you'll take full advantage of this deduction on qualifying vehicles for your business. Ready to dive in? Here's what you need to know.

Numbers at a Glance

Here's the breakdown of the numbers for the 2022 Section 179 Tax Deduction on qualifying vehicles:

2022 Deduction Limit: $1,080,000
2022 Spending Cap on Equipment Purchases: $2,700,000
2022 Bonus Depreciation: 100%

What Does This Mean for Me?

The Section 179 Tax Deduction gives businesses the opportunity for a full write-off on qualifying vehicles. In other words, you can deduct the full cost of the vehicles(s) within the same tax year using Form 4562. Our new Ford vehicles are ready to become an important part of your business. Take a look at our inventory and discover the right sedans, SUVs or trucks to suit your needs today!

Section 179 Tax Deduction

Here at Angela Krause Ford, we love helping our customers save money. Check out this brief video to learn more about the Section 179 Tax Deduction and how you could save significantly on the vehicles you need for your business.

For more information, please visit www.section179.org. If you have any more questions about the Section 179 Tax Deduction, reference IRS Publication 946 or give us a call. We're available to answer any questions you may have. Contact us today or come see us at 1575 Mansell Road, Alpharetta, GA 3000. We welcome customers from Sandy Springs, Cumming, Gwinnett and Duluth.

NOTE: The information supplied here is provided by your local Ford Dealer as a public service to its customers. It should not be construed as tax advice or as a promise of potential tax savings or reduced tax liability. Individual tax situations may vary. Federal rules and tax guidelines are subject to change. For more information about the Section 179 expense write-off or other business vehicle expense write-offs, you should consult your tax advisor for complete rules applicable to your transaction and visit the Internal Revenue Website at www.irs.gov. The aggregate deduction of $1,000,000 under Internal Revenue Code Section 179 is most beneficial to small businesses that place in service less than $2,500,000 of "Section 179 property" during the year (vehicles and other business property). IRC Section 280F(d)(7(B) requires that the limitation under IRC Section 280F(a)(1) be adjusted annually, based on the CPI automobile component for October of the preceding year. The IRS officially announced the Section 280F depreciation limits in Revenue Procedure 2018-23. The passenger automobile imitation is $11,160, the trucks/vans under 6,000 lbs. limitation is $11,560. SUVs over 6,000 pounds GVWR are limited to a deduction of $25,000 under Section 179(b)(5) with the remaining basis in the vehicle depreciated under normal MACRS methods. The expensing restrictions under Section 280F do not apply to vehicles that are considered to be "qualified non-personal use vehicles" (QNUVs). A QNUV is generally a vehicle that, by virtue of its nature or design, is not likely to be used more than a de minimis amount for personal purposes. For more information, see Income Tax Reg., Sec. 1.280F-6(c)(3)(iii), Income Tax Reg. Sec. 1.274-5T(k), and Revenue Ruling 86-97, and contact your tax advisor for details. Consult your tax advisor as to the proper tax treatment of all business-vehicle purchases. All prices exclude taxes, title and registration and document fees. Not all buyers will qualify for all offers. Above total savings are examples of specific vehicles; total savings varies by vehicle. (Individual Vehicle Incentives and Offers go here) Available at participating dealers only. See dealer qualifications and complete details. All incentives were correct at the time of printing and are subject to change at any time. Models shown may not represent actual vehicle description listed, and therefore may include additional features and/or accessories.

Although every reasonable effort has been made to ensure the accuracy of the information contained on this site, absolute accuracy cannot be guaranteed. This site, and all information and materials appearing on it, are presented to the user "as is" without warranty of any kind, either express or implied. All vehicles are subject to prior sale. Price does not include applicable tax, title, and license charges. ‡Vehicles shown at different locations are not currently in our inventory (Not in Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed one week.

Trade appraisals are estimated values. These values could increase or decrease based on condition, mileage and availability. The advertised price does not include sales tax, vehicle registration fees, finance charges, Georgia Lemon Law and any other fees required by law. All prices include all applicable factory rebates, factory discount, dealer discount, $199 electronic filing fee and $899 documentation fee. Some discounts and factory rebates may require financing with Ford Credit and where applicable factory trade assistance requires a 1995 or newer trade vehicle. Prices subject to change without notice based on Ford Motor Company incentives. However, there can be lag time between the sale of a vehicle and the update of the inventory. See dealer for full details on pricing, dealer discounts and Ford incentives. Limited availability while supplies last. Some exclusions may apply. Online prices may include dealer financing incentives and offers that require additional qualifications. See dealer for complete details. Vehicles shown at different locations are not currently in our inventory(Not In Stock) but can be made available to you at our location within a reasonable date from the time of your request, not to exceed 1 week. Additionally, we do not and cannot guarantee that every vehicle sold will be recall free. For questions about recalls, click here. Please verify any information with Angela Krause Ford.

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