IRS Section 179

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EARN A BIG IRS WRITE-OFF FOR YOUR BUSINESS WHEN YOU PURCHASE A NEW FORD TRUCK BY DECEMBER 31.

Small business owners in Buckhannon, Elkins, Bridgeport, Clarksburg or Fairmont, now is a great time to get the benefits of a new commercial vehicle from Jenkins Ford in Buckhannon, WV! Contact Commercial & Fleet Sales Manager Rick Floyd at 304-472-1700 and be sure to visit Section179.org for more information, or talk to your personal tax professional.

ANY CATCHES? TheĀ  qualifying vehicle must be purchased and placed into service between January 1, 2017 and December 31, 2017. It must be used at least 50% for business, based on mileage, in the first year it is placed in service. So if you choose to use it for both personal and business use, the cost eligible for deduction would be the percentage used for business.

*INCLUDES ALL REBATES & INCENTIVES. SEE DEALER FOR DETAIILS.
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.

1.This analysis applies only to vehicles placed in service in the United States after December 31, 2016 and by December 31, 2017 with no written binding contract for acquisition in effect before January 1, 2017. The aggregate deduction of $25,000 under Internal Revenue Code Section 179 is most beneficial to small businesses that place in service less than $200,000 of "Section 179 property" during the year (vehicles and other business property). 2. 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 2015-19. The passenger automobile imitation is $3,160, the trucks/vans under 6,000 lbs. limitation is $3,460. The expensing restrictions under Section 280F do not apply to vehicles that are considered to be "qualified nonpersonal 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.

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