Calling all North Carolina businesses -- it's time to maximize your savings and increase your profits by taking advantage of Section 179. This tax deduction, available at Deacon Jones Chrysler Dodge Jeep Ram, allows business owners the opportunity to write off the cost of qualifying vehicles.
Whether you're planning to expand your fleet or upgrade to a new commercial truck in Smithfield, the expert team at our Jeep and Ram dealership near Raleigh is ready to guide you through every step of Section 179.
What Is the Section 179 Tax Credit?
The Section 179 tax credit is an IRS tax code that allows businesses to deduct up to the full purchase price of qualifying equipment and vehicles purchased or financed during the tax year. Aimed at encouraging business investment, this incentive provides significant tax savings on eligible purchases.
To qualify, vehicles must be used for business purposes more than 50% of the time and must be put into service by December 31, 2025.
Which Chrysler, Jeep & Ram Models Qualify?
At our Smithfield dealership, we offer a range of vehicles that may qualify for the Section 179 tax deduction. Some of the eligible new Ram, Jeep and Chrysler models near Raleigh include:
- Ram 1500
- Ram ProMaster®
- Ram Heavy Duty
- Jeep Gladiator
- Jeep Grand Cherokee
- Jeep Wrangler
- Wagoneer
- Chrysler Pacifica
What Is the Section 179 Tax Credit?
The Section 179 tax credit is an IRS tax code that allows businesses to deduct up to the full purchase price of qualifying equipment and vehicles purchased or financed during the tax year. Aimed at encouraging business investment, this incentive provides significant tax savings on eligible purchases.
To qualify, vehicles must be used for business purposes more than 50% of the time and must be put into service by December 31, 2025.
Which Chrysler, Jeep & Ram Models Qualify?
At our Smithfield dealership, we offer a range of vehicles that may qualify for the Section 179 tax deduction. Some of the eligible new Ram, Jeep and Chrysler models near Raleigh include:
Section 179 Tax Deduction Limits for 2025
Designed to assist small- and medium-sized businesses in saving on expenses, the Section 179 tax deduction does have limits:
- 2025 Deduction Limit:1 $1,250,000
- Valid on new and used equipment (must be new to buyer), either purchased or leased.
- 2025 Spending Cap:1 $3,130,000
- Upon reaching this cap, deduction is reduced on a dollar-for-dollar basis.
- 2025 Bonus Depreciation:1 40%
- Allows a business to deduct a substantial percentage of the purchase price of qualifying assets immediately.
- Typically claimed after the Spending Cap is achieved.
- Applicable to both new and used vehicles.
Visit Our Commercial Truck Dealership Near Raleigh, NC
At Deacon Jones Chrysler Dodge Jeep Ram, we're committed to supporting local businesses by providing valuable resources like the Section 179 tax credit. Our team offers personalized assistance to ensure you find the right vehicle to enhance your business operations. Contact us today or visit our Smithfield Ram dealership to learn more about saving with the Section 179 tax deduction and explore our inventory of eligible vehicles.
Read More:
Which Ram Trucks Can Tow the Most? | Ram Truck Center
1 Information accurate at date of publishing. Refer to https://www.section179.org for most up-to-date specifications.