Section 168(k) Tax Deductions
EXPENSE UP TO 100% OF YOUR RAM COMMERCIAL VEHICLE PURCHASE IN THE FIRST YEAR
Now is the time to purchase the additional vehicle(s) needed for your business. 100% expensing for Federal income tax purposes may be available on your next Ram Truck purchase.
SECTION 168(K) TEMPORARY 100-PERCENT EXPENSING
A Ram truck is generally considered qualified property for purposes of section 168(k) for U.S. Federal Income Tax purposes. This means a taxpayer may elect to treat the cost of any qualified property as an expense allowed as a deduction for the taxable year in which the property is acquired and placed in service.
SECTION 179 FIRST-YEAR EXPENSING
A Ram truck is generally considered Section 179 property for U.S. Federal Income Tax purposes. This means a taxpayer may elect to treat the cost of any Section 179 property as an expense and allowed as a deduction for the taxable year in which the property is acquired and placed in service. A qualifying business may expense up to $1,020,000 of Section 179 property during 2019.
Consult your tax professional to determine your vehicle depreciation and tax benefits.