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Jeep & Ram Section 179 Tax Deductionnear Hartford, CT
Bolles Chrysler Dodge Jeep Ram is happy to help small- and medium-sized businesses get ahead by offering the Section 179 tax deduction. If you’re looking to increase day-to-day production, build your commercial vehicle fleet and save in the process, visit our Jeep and Ram dealer near Hartford. We’ll pair you with a Ram truck or Jeep SUV that’s Section 179 eligible, as well as inform you of all the Chrysler and Dodge models that qualify for tax savings. We do want to note that your vehicle must be put into service by December 31, 2022, to qualify for the Section 179 tax deduction.1 Have any questions? Come see us today to help your growing business prosper!
What Are the 2022 Section 179 Tax Deduction Limits?
- 2022 Deduction Limit: $1,080,0001 -- valid on new and used equipment (must be new to the buyer).
- 2022 Spending Cap: $2,700,0001 -- the max amount that can be spent on equipment before the Section 179 Tax Deduction begins to reduce on a dollar-for-dollar basis.
- 2022 Bonus Depreciation: 100%1 -- generally taken after the Spending Cap is reached, valid on new and used equipment.
The Section 179 tax deduction allows businesses to write off up to 100% of expenditures for qualifying models.1 These eligible vehicles include "non-SUV" vehicles with a cargo area at least six feet in length. Additionally, many passenger vehicles are eligible for a limited deduction if they’re used for business purposes at least 50% of the time. Limitations on passenger vehicle Section 179 deductions include:
- Cars: $11,160 (including Bonus Depreciation)1
- Trucks & Vans: $11,560 (including Bonus Depreciation)1
- Certain SUVs between 6,000-14,000 pounds: $25,000 (including Bonus Depreciation)1
Which Vehicles Qualify for Section 179?
Unsure of which vehicles qualify for the partial or full Section 179 tax deduction? Reach out to our Greater Hartford Ram and Jeep dealership for more information. Some of the new Jeep models and Ram trucks that are eligible include:
- Ram 1500
- Ram 2500
- Ram 3500
- Ram Chassis Cab
- Ram ProMaster®
- Ram ProMaster City®
- Jeep Gladiator
- Jeep Grand Cherokee
- Jeep Grand Cherokee WK
- Jeep Grand Cherokee 4xe
- Jeep Wrangler
- Wagoneer
- Grand Wagoneer
Do Used Cars Qualify for Section 179?
Yes, as long as the vehicle is new to you and falls under the Section 179 requirements, it’s able to qualify for Section 179 tax savings. Work with our local auto sales team on buying a pre-owned Jeep SUV, or chat with our Ram financing experts on used Ram vans near Hartford that are eligible for this federal tax deduction.
If you have any questions at all regarding the Section 179 deduction and which models are eligible, please contact Bolles Chrysler Dodge Jeep Ram in Stafford. We’re here to help your local business reach its full potential, so stop by our lot today to see how you can write off up to 100% of the purchase price on the vehicles you need!1
1 See dealer for details.