If you or your company has been waiting for the right time to purchase your next commercial vehicle, the time is now! And Fuller Ford, with its combination of a huge commercial inventory and FREE LIFETIME OIL CHANGES, is the right place to get it!
BUY A NEW FORD. GET A BIG WRITE-OFF.
Thanks to IRS Section 179 of the IRS tax code, many businesses that invest in new equipment will be able
to write off up to 100% of these purchases on their 2012 IRS tax returns. Normally, businesses spread
these deductions over several years. But now, the tax benefits provided under IRS Section 179 allow
many businesses to write off qualifying new equipment in the first year it is placed in service.
Here’s an example FOR QUALIFYING BUSINESSES.
For instance, when you buy a qualifying new Ford truck for your business, the cost is an expensethat
can be fully deducted in the first year it is placed into service. So, whether you need one or more
qualifying vehicles, a business can expense up to $139,000 worth in 2012. Please note that this
deduction amount would be reduced, dollar for dollar, once your equipment purchases exceed $560,000 in 2012.
Is there a catch?
The qualifying vehicle must be purchased and placed into service between January 1, 2012 and December 31, 2012. It must be used at least 50% for business, based on mileage, in the first year it isplaced in service. So if you choose to use it for both personal and business use, the cost eligible for deduction would be the percentage used for business.
WHAT’S THE URGENCY?
For 2013, all indications are that the Section 179 deduction limitation will be reduced to only $25,000
and any bonus depreciation deduction will be eliminated. So the December 31, 2012, deadline is approaching quickly.