Buy a New Ford from Al Packer's White Marsh Ford in MD for a 2020 Tax Deduction

Buy a new Ford commercial vehicle from Al Packer's White Marsh Ford in MD, near - Baltimore, Dundalk, Towson, Essex, Nottingham, Parkville, Perry Hall, Middle River, and Bel Air - for your business, and you could qualify for a huge 2020 tax deduction. The guidelines under IRS Section 179 tax code allow many small businesses to write off new equipment purchases of up to $1,040,000 in 2020.

What is the IRS Section 179 tax deduction and its guidelines?

You can deduct up to the full purchase price - including any financed amount - from your gross taxable income if you buy it before the end of 2020. Here's what to keep in mind:

  • Must be purchased AND put into service between January 1, 2020, and December 31, 2020.
  • Must be used more than 50% of qualified business use.
  • If used for personal and business, the eligible cost becomes the percentage the vehicle is used.

Which vehicles qualify for the Section 179 tax deduction?

Many of our 2020 Ford vehicles will qualify for some sort of tax deduction from Section 179. See the chart below.

Tax Treatment Applies to Eligible Vehicles
Up to 100% of the purchase cost in the first year* Trucks and cargo vans over 6,000 pounds GVWR Ford F-150 (6.5- or 8-foot bed) F-250/F-350 Super Duty Transit Van
Up to $25,000 of the purchase cost in the first year* Passenger trucks/vans and SUVs over 6,000 pounds GVWR Expedition Ford F-150 SuperCrew (5.5- or 6.5-foot bed) Transit Wagon
Up to $11,560 in the first year* Trucks and cargo vans under 6,000 pounds GVWR Transit Connect Van Transit Connect Wagon
Up to $11,160 in the first year* Passenger automobiles under 6,000 pounds GVWR Edge, Escape, Fusion, Explorer

Don't delay on purchasing your new Ford commercial vehicle! Check out the entire inventory available at Al Packer's White Marsh Ford today so you can complete everything before the end of 2020!

NOTE: The information supplied here is provided by your local Ford Dealer as a public service to its customers. It should not be construed as tax advice or as a promise of potential tax savings or reduced tax liability. Individual tax situations may vary. Federal rules and tax guidelines are subject to change. For more information about the Section 179 expense write-off or other business vehicle expense write-offs, you should consult your tax advisor for complete rules applicable to your transaction and visit the Internal Revenue Website at www.irs.gov. This analysis applies only to vehicles placed in service in the United States after January 1, 2020 and by December 31, 2020 with no written binding contract for acquisition in effect before January 1, 2020. The aggregate deduction of $1,040,000 under Internal Revenue Code Section 179 is most beneficial to small businesses that place in service less than $2,590,000 of "Section 179 property" during the year (vehicles and other business property). IRC Section 280F(d)(7(B) requires that the limitation under IRC Section 280F(a)(1) be adjusted annually, based on the CPI automobile component for October of the preceding year. The IRS officially announced the Section 280F depreciation limits in Revenue Procedure 2018-23. The passenger automobile imitation is $11,160, the trucks/vans under 6,000 lbs. limitation is $11,560. SUVs over 6,000 pounds GVWR are limited to a deduction of $25,000 under Section 179(b)(5) with the remaining basis in the vehicle depreciated under normal MACRS methods. The expensing restrictions under Section 280F do not apply to vehicles that are considered to be "qualified non-personal use vehicles" (QNUVs). A QNUV is generally a vehicle that, by virtue of its nature or design, is not likely to be used more than a de minimis amount for personal purposes. For more information, see Income Tax Reg., Sec. 1.280F‑6(c)(3)(iii), Income Tax Reg. Sec. 1.274‑5T(k), and Revenue Ruling 86‑97, and contact your tax advisor for details. Consult your tax advisor as to the proper tax treatment of all business-vehicle purchases. All prices exclude taxes, title and registration and document fees. Not all buyers will qualify for all offers. Above total savings are examples of specific vehicles; total savings varies by vehicle. (Individual Vehicle Incentives and Offers go here) Available at participating dealers only. For all offers, take new retail delivery from dealer stock by 12/31/2020. See dealer qualifications and complete details. All incentives were correct at the time of printing and are subject to change at any time. Models shown may not represent actual vehicle description listed, and therefore may include additional features and/or accessories.