Ram Section 179 Tax Deduction

Are you a business owner looking to maximize your tax savings before the year ends? At Capital City Chrysler Dodge Jeep Ram, we offer a wide selection of vehicles that qualify for the Section 179 tax deduction

By taking advantage of this tax benefit designed to benefit small-business owners, you can significantly reduce your taxable income while upgrading your business fleet with top-quality commercial vehicles. Have questions about how Section 179 works? The team at our Ram dealership near Columbia is here to help you navigate the ins and outs of the Section 179 deduction and find the perfect vehicle for your business needs.

2023 Ram Trucks in a dirt lot

2023 Jeep Grand Cherokees driving through rough terrain

What Are the Section 179 Tax Deduction Limits?

For the 2024 tax year, the Section 179 deduction limit is set at $1,220,000,1 applicable to both new and used equipment, as long as it’s new to the buyer. The spending cap for 2024 is $3,050,000,1 meaning that once your total equipment purchases exceed this amount, the deduction begins to phase out on a dollar-for-dollar basis. Additionally, a 60% bonus depreciation is available for equipment purchases beyond the spending cap.1

To qualify for Section 179 deduction savings, the vehicle must be purchased and put into use before December 31, 2024, used for business purposes more than 50% of the time, and titled in the company’s name.

Which Jeep & Ram Vehicles Qualify for Section 179

Work-centric vehicles like shuttle vans and classic cargo vans can often qualify for a 100% deduction.1Traditional passenger vehicles used for business at least 50% of the time can also qualify for partial deductions, however.1 Used vehicles are also eligible for Section 179 tax incentives — what matters is that the vehicle is new to you. 

Our Jefferson City Ram dealership offers a variety of vehicles that qualify for the Section 179 tax deduction. Eligible models include:1