Expand Your Ford Fleet and Save On Taxes!

It’s that time of year again! As businesses start to get ready for tax season, some are finding that they still have some wiggle room left in their deductions, and they come to Borgman to expand their fleet. Don’t leave any money on the table, stop in to see what we can do for you! Read on for a quick overview of Section 179.

What Is Section 179?

Section 179 is a part of the IRS tax code that allows businesses to deduct equipment purchases from throughout the tax year. Simply put, if you buy or lease a commercial vehicle from Borgman, you can deduct the full purchase price from your business’s gross income.

How Does It Work?

Normally, businesses get to write off equipment purchases such as vehicles a little bit at a time. While this is better than nothing, it doesn’t really incentivize growing your business. Section 179 allows you to write off the entire purchase price of equipment purchased throughout the year, allowing you to make more effective investments in your fleet.

Who and What Qualifies For Section 179?

Typically, any business that buys equipment can qualify for Section 179, but there are limitations. For 2015, businesses can write off up to $200,000 in equipment purchases, up to $25,000 per item. Vehicles purchased or financed must be placed into service during the tax year. Most commercial vehicles qualify, but there are some limitations on passenger vehicles. Be sure to check with us or view the latest guidelines on IRS.gov for more information.

Stop by our showroom soon to see our lineup of Ford Commercial vehicles, and to find out how you can stretch your dollar even further for the end of the year. Click Here to see our full Ford Commercial Inventory.

Call Sundew Prindle today at (616) 249-8877 for more information about Section 179 Deductions.