Tough jobs require trucks that can take all the dirt and heat thrown at them — and then some. But while your truck must be built to work hard, that doesn’t mean you have to work hard. That’s why Ford engineers have gone to great lengths to make the current generation of the F-150 so easy to operate, whether you’re inside the cab or working out of the pickup bed. F-Series offers a broad range of features.
TAKE ADVANTAGE OF THESE TAX DEDUCTIONS FOR YOUR SMALL BUSINESS WHEN YOU PURCHASE A NEW FORD VEHICLE BY DECEMBER 31, 2018.
Talk to your Tax Professional now! See what tax deductions apply to your business to allow you to get the maximum tax benefits in 2018 for the purchase of a new vehicle for your business.
A: Section 168(k) is the current IRS tax code that allows you to buy qualifying Ford vehicles and deduct up to the full purchase price (including any amount financed) from your gross taxable income if purchased before December 31, 2018. That means that if you buy a piece of qualifying equipment and products, you may be able to write off up to the FULL PURCHASE PRICE from your gross taxable income this year.
A: Yes. To qualify for the Section 168(k) tax deduction for the 2018 tax year, your Ford vehicle must be purchased or leased and placed into service by December 31, 2018.
A: Trucks with a GVWR greater than 6,000 lbs. and a bed length of at least six feet (i.e., Ford F-150/F-150/F-350) qualify for the maximum first-year depreciation deduction of up to the FULL PURCHASE PRICE. SUVs, including trucks, with a GVWR greater than 6,000 lbs. (i.e., Ford F-150 SuperCrew® 51/2 ft. bed, Explorer, Expedition) qualify for a maximum first-year depreciation deduction of the full purchase price as well.
A: Vehicles of less than 6,000 lbs. GVWR (built on a truck chassis), such as the Transit Connect, may still qualify under current bonus depreciation for up to $18,000 per vehicle in the first year. Passenger automobiles under 6,000 lbs. GVWR also may qualify for up to $18,000 in depreciation.