Saturday, November 4, 2017
Get A Huge Tax Break For Your Business At Brighton Ford
BUYING A NEW FORD = A HUGE TAX WRITE-OFF
According to new tax guidelines under the IRS section 179 tax code, small businesses may be eligible to write off up to $500,000 that was spent on new equipment specifically for the business. In the past, businesses were required to spread these deductions out over the span of several years. But now, under the IRS section 179, businesses can write off the entire cost of one or more qualifying new Ford trucks or work vans from Brighton Ford near Lansing. To be eligible for the 2017 tax year, vehicles must be purchased between now and December 31, 2017.
In addition to buying the vehicle in the specified time frame, the vehicles must be used for business at least 50% of the time (based on mileage) in the first year that the vehicle is used. If you use the car for both business and personal use, only the percentage used for business would be eligible for tax deduction. Section 179 for 2017 expires end of day, 12/31/2017. To deduct the full price of your equipment from your 2017 taxes and cash-in on the new higher deduction limits, your new Brighton Ford work truck must be purchased and put into service by year end.
Give us a call for details at 810-227-1171 and shop the largest F-150, Superduty and Transit inventory in Livingston County below!
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