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Ford Big Write-Off

Tax Break for Small Business at Stoneham Ford

How to Save Money on Your Taxes with Ford

Taxes can be quite the headache for small businesses. With all of the costs involved in running the business, it’s frustrating to have to pay so much extra money in taxes. Luckily, Ford is doing its best to help small businesses this tax season. Here’s how you can save money on taxes with Ford.

BUY A NEW FORD. GET A BIG TAX WRITE-OFF.


Section 179 Limit = $500,000 for 2017


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 for the business. In the past, businesses were required to spread these deductions out over the span of several years. However, under the IRS section 179, businesses can write off the entire cost of one or more qualifying new Ford trucks or vans. To be eligible for the 2017 tax year, vehicles must be purchased between January 1, 2017 and December 31, 2017.

What's the Catch?

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.

Answers to the Three Most Common Section 179 Questions

How Much Can I Save on My Taxes in 2017?
It depends on the amount of qualifying equipment and software that you purchase and put into use. See the handy Section 179 Calculator that's fully updated for 2017, and includes any/all increases from any newly enacted Tax Extenders Act.

What Sort of Equipment Qualifies in 2017?
Most tangible business equipment qualifies. Click here for qualifying property.

When Do I Have to Do This By?
Section 179 for 2017 expires midnight, 12/31/2017. If you wish to deduct the full price of your equipment from your 2017 taxes and take advantage of the new higher deduction limits, it must be purchased and put into service by then.




Note: This analysis 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 services or reduced tax liability. For model information about the section 179 expense write-off or other vehicle write-offs, contact your tax advisor, or visit the Internal Revenue Website at www.irs.gov.

Stoneham Ford

211 Main St
Stoneham, MA 02180

Hours of Operation

Monday: 8:30AM - 8PM
Tuesday: 8:30AM - 8PM
Wednesday: 8:30AM - 8PM
Thursday: 8:30AM - 8PM
Friday: 8:30AM - 6PM
Saturday: 9AM- 5PM
Sunday: 11 AM - 4PM

Stoneham Ford

211 Main St
Stoneham, MA 02180

Hours of Operation

Monday: 7:30 a.m. - 6:45 p.m.
Tuesday: 7:30 a.m. - 6:45 p.m.
Wednesday: 7:30 a.m. - 6:45 p.m.
Thursday: 7:30 a.m. - 6:45 p.m.
Friday: 7:30 a.m. - 6:45 p.m.
Saturday: 8:00 a.m. - 12 p.m.
Sunday: CLOSED

Stoneham Ford

211 Main St
Stoneham, MA 02180

Hours of Operation

Monday: 7:30 AM - 5:30 PM
Tuesday: 7:30 AM - 5:30 PM
Wednesday: 7:30 AM - 5:30 PM
Thursday: 7:30 AM - 5:30 PM
Friday: 7:30 AM - 5:30 PM
Saturday: 8:00 AM- 1:00 PM
Sunday: Closed