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Commercial Truck Tax Benefits Indiana
Commercial Truck Tax Benefits Indiana
Learn More from Glenbrook DCJR!
Hardworking owners of businesses, both small and large, have relied on Ram commercial trucks to keep their businesses mobile and running smoothly. To keep up with the fast-paced world, Ram Commercial provides a wide array of trucks and vans with a variety of upfits to meet the needs of particular trades and the availability of custom graphics. But did you know that the purchase of a Ram Commercial truck for your business makes you eligible for a tax benefit of up to 100% of the truck's purchase price? Keep reading below to learn more!
Section 168(k) Temporary 80% Deduction
Most trucks and vans in the Ram Commercial lineup are eligible as property qualified for federal tax benefits under Section 168(k). Put simply, this allows you, the taxpayer, to deem the cost of the vehicle as a business expense rather than a purchase, which allows you to claim a tax deduction for the year in which the vehicle was put to use.Â
Section 179 First-Year Expensing
In addition to Section 168(k), a commercial vehicle is also viewed by the IRS as Section 179 property, allowing the vehicle to be deemed a business expense. Qualified businesses have a $1,050,000 allowance for property that falls under Section 179. This allows the business to write off the purchase of a commercial vehicle as an expense in the year that it was purchased and put into use. To learn more about the commercial truck benefits under both Section 168(k) and Section 179, it is recommended that you speak to a tax professional before filing.Â
Why is the Ram Commercial Lineup so Popular?
The reason businesses choose Ram Commercial over other truck brands is because of the seemingly endless amount of options available. For example, just the lineup of Ram Commercial models is impressive, spanning from the light-duty 1500 to the heavy-duty 2500 and 3500 to the Chassis Cab 3500, 4500, and 5500. Ram also offers two cargo vans, the ProMaster City and the larger ProMaster, which is available in 1500, 2500, and 3500 variants. However, the options go further beyond that with a huge selection of upfits to cater to the needs of a vast array of trades like HVAC, plumbing, electric, construction, delivery, landscaping, and much more. Plus, Ram Commercial offers custom graphics so you can keep your brand name on the road!
Ram Commercial Vehicles for Sale Fort Wayne, IN
With two tax benefit options and a huge selection of options, it's no wonder that businesses continue to turn to Ram Commercial to keep their business on the move. Glenbrook Dodge Chrysler Jeep Ram is proud to offer drivers and business owners access to Ram Commercial trucks and vans in the Fort Wayne area. You can browse our full Ram truck lineup here on our website to find the right truck or van for your business. Or, if you have questions regarding Ram Commercial and how to acquire the truck your business needs, use the contact sheet below this page to reach the Glenbrook DCJR sales experts. We look forward to hearing from you soon!