Ram Commercial Tax Incentives

Did you know the IRS considers a Ram Commercial truck or van the golden ticket for the tax game? We’re talking about the fact that these trucks and vans are considered property in the eyes of section 168(k) for federal income tax purposes. Now, why is that a big deal? Because section 168(k) is magic in the U.S. tax code. It says that if you’re a business owner and grab yourself a shiny new Ram commercial vehicle, you get to deduct the entire cost right in the year you snatch it up and put it to work. There is no need to spread out the joy over time with depreciation. You get to expense it right off the bat fully. Oh, and here’s an extra nugget for you – any fancy upgrades you throw on your new ride at the time of purchase might be in the running for some sweet qualifying action, too. Talk about making tax time a breeze!

Okay, so let’s dive into this tax magic called Section 179. It’s a secret weapon for folks using Ram Commercial trucks or vans in their trade or business. With Section 179, you can play the expense card. That means you can treat the cost of any Section 179 property (the good stuff you’re using for your biz) as an expense. And guess what? You get to knock off that expense from your taxes in the very year you snagged the property and put it to work. No, waiting around; you get instant gratification! Now, for the exciting numbers part, if your business is all set to qualify, you can expense up to a whopping $1,160,000 of Section 179 in 2023. Cha-ching! Oh, and don’t forget, those snazzy upgrades you throw on your gear at the time of purchase might add to the tax-saving party. Talk about turning tax season into a celebration!

In addition to Section 168(k) and 179 deductions, businesses can also hit up bonus depreciation and first-year expensing for certain goodies. Bonus depreciation lets companies deduct a chunk of the cost of their property in the same year they snatch it up and start using it. Quick and easy savings right there. First-year expensing is even more generous, and it lets businesses write off the whole shebang of their qualifying property in the very year they grab it and put it to work. There’s a limit, of course, but still, it’s a sweet deal.

If you’re thinking about boosting your fleet and scoring some sweet end-of-the-year tax perks, swing by the Astorg Dodge Chrysler Jeep Ram! We’ve got the entire Ram Commercial lineup waiting for you. Whatever you’re looking for in the automotive department, our dealership is the place to be. We’re all about honesty, integrity, and treating you like a friend – because we believe that’s the recipe for an incredible car-buying experience. So, why not drop by and let’s make upgrading your wheels? Fill out the form below to get started!