Save Business Capital with Ram Truck Van Tax Incentives
It’s tax season and that means a lot of different things for everyone. Stress, payments, confusion. Well, it can also mean something good, if your business needs a truck or a van. Current tax regulations may allow buyers and business owners to expense up to 100% of their truck purchase(s) during the first year of ownership.
A Ram truck that is bought and used for business purposes is generally considered Section 179 property for U.S. Federal Income Tax purposes. This means a taxpayer may elect to treat the cost of any Section 179 property as an expense, allowed as a deduction for the taxable year in which the property is placed in service. A qualifying business may expense up to $500,000 of Section 179 property during 2016.
There are more than a handful of Ram vehicles that can be expensed for up to 100 percent of the purchase cost in the first year up to the $500,000 aggregate tax deductions.
Here is a list of the vehicles that qualify.
RAM 1500 Reg Cab
RAM 1500 Quad Cab
RAM 1500 Crew Cab 6’4″ Box
RAM Chassis Cab 3500
RAM Chassis Cab 4500
RAM Chassis Cab 5500
RAM ProMaster 1500
RAM ProMaster 2500
RAM ProMaster 3500
There are also two vehicles that are eligible for up to $25,000 of the purchase cost in the first year of ownership. These vehicles include the Ram 1500 Crew Cab 5’7” Bow and Ram ProMaster City Cargo Van.
So if you are in need of a new truck or van for your business, come by University Dodge and check out what we have in stock. You can also view our Ram truck and van inventory online here.