Take Advantage of Section 179 in New Hampshire
Upgrade your company’s operations with Allen Mello Chrysler Dodge Jeep Ram -- a New Hampshire dealership that cares about local businesses. Visit our Jeep and Ram dealership in Nashua to discover information regarding the 2023 Section 179 tax deduction.
Whether you’re interested in buying a Ram work truck for the jobsite or seeing if your Jeep 4x4 is eligible for Section 179 tax credits, our Chrysler financial advisors are here to provide all the commercial vehicle tax information you need.
What Vehicles Qualify for Section 179?
Capitalize on substantial savings when you purchase a van, truck or tax-eligible Jeep SUV from us. If you're unsure about the eligibility criteria for Section 179 or if the vehicle you have in mind is covered, we’ll be happy to review the full list of qualifying options. Some of the new and used vehicles at Allen Mello Chrysler Dodge Jeep Ram that qualify for Section 179 may include:
- Chrysler Pacifica
- Dodge Durango
- Dodge Grand Caravan
- Jeep Grand Cherokee
- Jeep Grand Cherokee L
- Jeep Wrangler Unlimited
- Jeep Gladiator Rubicon
- Ram 1500
- Ram 2500
- Ram 3500
- Ram ProMaster®
What Are the Section 179 Limits?
The 2023 Section 179 tax deduction limit is $1,160,000 -- an increase from last year.1 Whether you buy a new commercial Ram truck in Nashua, finance a pre-owned work van or lease a qualifying Jeep model, all that matters is that the vehicle that’s purchased or leased is new to you. Meanwhile, the Bonus Depreciation for the current tax year is 80%.
To be eligible for Section 179 this year, the vehicle must be put into use before December 31, 2023, and used for business purposes more than 50% of the time. The title of the vehicle must be in the name of the company.
There are additional limits on passenger vehicles used for business purposes, so stop by today to get the lowdown on everything you need to know for the 2023 Section 179 tax code.
What Is Section 179?
Eligible businesses can utilize the Section 179 tax deduction to subtract the cost of machinery and certain equipment during tax filing -- including vehicles. The program -- implemented by the U.S. government -- was designed to help small- to medium-sized businesses ease their tax burden.Â
Heavy SUVs like the new Jeep Grand Cherokee are eligible, as are passenger vans such as the Chrysler Pacifica. And of course, new and used commercial vehicles like the Ram 1500 and Ram ProMaster® qualify, giving businesses plenty of options when it comes tax savings.
Commercial Ram Dealership Near Me
Have questions on the 2023 Section 179 spending cap? Looking to get a list of tax-eligible commercial trucks, vans and more? Contact Allen Mello Chrysler Dodge Jeep Ram to speak with our team today!
1 Information accurate as of publication. See dealer for details.