Ryan CDJR Monticello

Call 763-314-4498 Directions
alt_text

Claim the Section 179 Tax Deduction Near St. Michael, MN

Enhance your local business with a reliable commercial vehicle from Ryan Auto Mall Chrysler Dodge Jeep Ram Monticello. We boast an array of trucks, SUVs and vans suitable for your business needs, many of which are eligible for the Section 179 tax break.

Take this chance to save on your business’ taxes by deducting the entire purchase cost of qualifying vehicles. To claim this tax write-off for the current year, make sure your vehicle is bought and deployed by December 31, 2023.1

Have questions about Section 179 vehicles? Wondering if you qualify Section 168(k)? Get advice from a trusted tax expert. Or, stop by our Ram dealer near St. Michael to speak with our team!

Jeep Grand Cherokee

A Look at the 2023 Section 179 Deduction

The Section 179 tax break aims to lend financial support to small-to-medium-sized businesses that are planning to purchase used or new commercial vehicles in Monticello for work usage. There are specified limits on this tax deduction based on the type of vehicle and other considerations.

Here are the defined limits for 2023 Section 179 deductions:1

  • Section 179 maximum deduction for 2023: $1,160,000 -- applicable for both brand-new and pre-owned equipment, as long as it's new to your business.
  • 2023 Bonus Depreciation: 80% -- valid for both new and used equipment.
  • The Passenger Vehicles Deduction Limit: Certain vehicle types such as pickups and large SUVs weighing between 6,000 and 14,000 pounds may qualify for a maximum first-year deduction of $28,900.

Which Vehicles Qualify for Section 179?

Our line of new Ram, Chrysler, Jeep and Dodge vehicles includes a range of models that may be eligible for full or partial Section 179 deductions. These include:

  • Chrysler Pacifica
  • Dodge Durango
  • Jeep Grand Cherokee
  • Jeep Grand Cherokee 4xe
  • Jeep Grand Cherokee L
  • Jeep Wrangler 4xe
  • Jeep Gladiator Rubicon
  • Ram 1500
  • Ram 2500
  • Ram 3500
  • Ram ProMaster®
  • WAGONEER
  • GRAND WAGONEER
RAM 1500

Benefits of the Section 168(k) Tax Code

For small businesses, the Section 168(k) tax code serves as a commendable form of tax assistance. It facilitates instant expense deductions that balance the costs of business property investments. This tax code provision permits businesses to substantially deduct the purchase price of eligible assets, like Ram trucks and commercial vans, in the first year of use.

Browse our available commercial trucks in Minnesota and lighten your tax obligations while bolstering your fleet with the Section 168(k) deduction.

Your Trusted Commercial Vehicle Dealership Near St. Michael

Contact Ryan Auto Mall Chrysler Dodge Jeep Ram Monticello to find out which of our new and pre-owned vehicles are eligible for Section 179 or drop by our showroom to speak with our expert staff.

Our work trucks, SUVs and vans may provide you with significant tax savings through Section 179, so don’t wait, visit us today before the year’s end to make the most of this exciting opportunity!

1 Information accurate at the time of publishing. Refer to https://www.section179.org for the most current specifics.