2017 Year End Tax Event – Commercial Business Owners
Your Small Business May Qualify for a 2017 Tax Deduction of up to $510,000
Take A Brake This Tax Season
Before you know it, 2017 will be over! Take advantage of our Year End Tax Event’s incentives before time runs out. You have the opportunity to expand your business and watch it grow. What better way to do so than adding to your already impressive fleet. As one of the largest RAM dealers in New England, you’ll have a wide selection of commercial vehicles and uplift to assist your commercial needs.
Small business owners are eligible to receive up to $510,000 in tax deductions on qualifying purchases. Before deciding, please review your vehicle depreciation deductions and tax benefits with a tax professional. Both new and used vehicles qualify for Section 179 Deductions. This offer expires on 12/31/2017.
Up to $25,000*
- RAM 1500 Crew Cab 5’7″ Box
- RAM ProMaster City Cargo Van
Up to $510,000**
- RAM 1500 Reg Cab
- RAM 1500 Quad Cab
- RAM 1500 Crew Cab 6’4″ Box
- RAM 2500/3500
- RAM Chassis Cab 3500
- RAM Chassis Cab 4500
- RAM Chassis Cab 5500
- RAM ProMaster 1500
- RAM ProMaster 2500
- RAM ProMaster 3500
*Total deduction per vehicle
**Total deduction (aggregate, no per vehicle purchase price limit)
Does Your Business Qualify?
Section 179 Deductions at a Glance
Some believe Section 179 Deductions is a complicated. However, this is a common misconception. As you will read, this tax code is simple and easy to understand.
In short, this IRS tax code allows businesses to deduct qualifying equipment and/or software purchased or financed during a given tax year. In terms of commercial and fleet vehicles, small business owners can deduct the full purchase price from their gross income. The reasoning and motivation behind this is to encourage growth through investments. In recent years, people have found loopholes and abused Section 179 Deductions. This was later dubbed the “SUV Tax Loophole”. Because of this, our government has placed limits and restrictions on qualifying vehicles. Be sure to check the list above to confirm the eligibility of your desired commercial vehicle.
Here Are Some Brief Guidelines under Section 179 Deductions
- All businesses that purchase, finance and/or lease less than $2,000,000 in new or used equipment during the tax year 2017.
- Including, but not limited to, tangible goods including “off-the-shelf” software and vehicle used for business
- Purchased or financed equipment and software must be placed into service between January 1, 2017 and December 31, 2017
For a complete understand of Section 179 Deductions, please consult your tax professional.