If you use a vehicle for business purposes in Washington, NJ, or the surrounding areas, you may be able to take advantage of significant tax savings through the Section 179 deduction. This allows you to deduct the full purchase price of qualifying equipment, including vehicles, from your gross income.
To qualify for the section 179 tax savings, the vehicle must be used for business purposes more than 50 percent of the time and put into service in the same tax year that you claim the deduction. This creates a fantastic opportunity for businesses in Clinton, NJ, to invest in vehicles they need while writing off the expense.
Some examples of qualifying businesses include construction, landscaping, delivery services, retail stores, and many others. Certain vehicles, like heavy SUVs, pickups, and vans, can be especially beneficial for businesses to purchase using Section 179.
For the 2025 tax year, the Section 179 deduction limit is set at $1,250,000. This means your business can deduct up to that amount on qualifying purchases. The spending cap for 2025 is $3,130,000, after which the available deduction begins phasing out. In Easton, PA, and across the country, businesses are using Section 179 to upgrade their fleet of vehicles and equipment.
In addition, for vehicles purchased and put into service during 2025, a 40 percent bonus depreciation is available. By combining this with the Section 179 deduction, you can realize tremendous tax savings. That makes now a great time for businesses in Phillipsburg, NJ, to invest in new work vehicles.
At Fred Beans Ford of Washington, you'll find a great selection of vehicles that can qualify for these tax incentives in our new inventory, including Ford F-150 and Super Duty pickups, Transit and E-Transit vans, and spacious SUVs like the Explorer and Expedition. All of these are popular choices for businesses in Bedminster, NJ, that want to take advantage of Section 179.
If you have any questions about how your business can benefit from the Section 179 tax deduction, don't hesitate to contact us at Fred Beans Ford of Washington. Our team is happy to walk you through the details and help you find the right vehicles for your needs. Businesses in Hackettstown, NJ, and beyond can save significant money by planning their purchases with these tax incentives in mind.
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