Ram & Jeep Section 179 Tax DeductionsNear Springfield, PA
Elevate your small business with a commercial vehicle from Videon Chrysler Dodge Jeep Ram. Our Jeep and Ram dealership near Springfield boasts an expansive inventory of trucks, SUVs, and vans that are perfect for businesses -- and many of them are also eligible for the Section 179 tax deduction.
Take full advantage of this opportunity to deduct up to 100% of the purchase price of qualifying vehicles from your company's year-end taxes.1 But be sure to hurry in, because in order to secure Section 179 tax savings this year you need to make sure that the vehicle is purchased and put into service by December 31, 2023.1
Understanding the 2023 Section 179 Deduction Caps
The Section 179 tax deduction is designed to provide financial relief to small and medium-sized businesses when purchasing vehicles for company use. This tax break is tailored specifically for smaller enterprises, and as a result, there are set ceilings on the deductible amounts according to the type of vehicle being purchased.
For 2023, the Section 179 limits are as follows:1
- 2023 Section 179 Deduction Limit: $1,160,000 -- applicable to both new and pre-owned equipment, provided the equipment is new to you.
- 2023 Bonus Depreciation: 80% -- valid for new and used equipment.
- Passenger Vehicles Deduction Cap: Vehicles such as pickups and heavy SUVs weighing between 6,000 and 14,000 pounds may be eligible for a maximum first-year deduction of $28,900.
What Jeep & Ram Vehicles Are Eligible for Section 179?
There are many vehicles within our inventory of new Ram, Jeep, Chrysler and Dodge models that are eligible for total or partial Section 179 deductions, including:
- Chrysler Pacifica
- Dodge Durango
- Dodge Grand Caravan
- Jeep Grand Cherokee
- Jeep Grand Cherokee L
- Jeep Wrangler Unlimited
- Jeep Gladiator Rubicon
- Ram 1500
- Ram 2500
- Ram 3500
- Ram ProMaster®
Commercial Ram Sales Near Springfield, PA
Have questions about which Ram vehicles qualify for the Section 179 tax deduction? Want to arrange a Ram 1500 test-drive near Springfield? Contact Videon Chrysler Dodge Jeep Ram or stop by our Newtown Square Jeep dealer to speak with our team.
Our dedicated commercial vehicle hub is the go-to source for robust heavy-duty trucks and versatile fleet vans, offering significant savings on the essential vehicle your business needs. Enhance your business operations and capitalize on major savings with the Section 179 tax benefit by visiting us today!
1 Information accurate at the time of publishing. Refer to https://www.section179.org for the most current specifics.
