Monday, December 2, 2013

Get the vehicles you need...Plus the Tax Savings You've Earned.

Gresham Ford Fleet Can Help with Section 179
Get your business a BIG IRS tax break!  The IRS Section 179 tax deductions will expire December 31st, 2013.  Read below for details which may - allow you to write off up to 100% of a new Ford truck, van or SUV purchase this year.  You may get your business a get IRS tax break when you purchase a qualifying new Ford truck, van or SUV by December 31 2013.  Whether you are a small business owner, sole proprietor, partnership, S-Corporation or LLC, you will want to learn more about how Ford can help your bottom line with the best vehicle lineup ever.  Ask your tax professional about IRS Section 179 depreciation and plan now to take advantage of this opportunity.  Visit the Gresham Ford Fleet department for special deals on these qualifying vehicles.  Gresham Ford does not provide tax advice and suggests that you speak with your tax advisor prior to purchase.  Gresham Ford Fleet also provides a locating service; if we don't have what you need in stock we will find it and secure it on your behalf.  Contact a Commercial Account Manager at 503-669-5343 today to discuss your specifications.  Commercial vehicles like your work trucks and work vans are most likely the life blood of your business and Section 179 may provide an opportunity to update your current fleet.  Whether your fleet is one vehicle or one hundred Gresham Ford is happy to help find you the best fit for your business.
Consult your Tax Professional about Section 179
PLEASE NOTE:  This information supplied is provided by Gresham Ford as a public service to you.  It should not be construed in any way as tax advice or as a promise of potential tax savings or reduced tax liability.  Individual tax situations may vary.  Federal rules and tax guidelines are subject to change.  For more information about the Section 179 tax code and tax deductions please contact your tax professional or visit the Internal Revenue Service website at www.irs.gov.

Gresham Ford provides the entire line up of Ford vehicles including Ford Commercial vehicles.  You must act by December 31st 2013 to get your deduction for the 2013 tax year.  Consult your tax professional for advice on your business tax situation today, hurry.

Are you asking what is the IRS Section 179 and how can it help your bottom line?  Section 179 is the current tax code that allows you to buy qualifying Ford vehicles and deduct up to 100% of the full purchase price (including any amount financed) from your gross taxable income if purchased before December 31st, 2013.  That means that if you buy a piece of qualifying equipment, you may be able to write off the FULL PURCHASE PRICE from your gross taxable income this year!  Remember you must act before December 31st 2013.
Ford Commercial Vehicles offered by Gresham Ford Fleet 503-669-5343

1 This analysis applies only to vehicles placed in service in the United States after December 31st 2012, and by December 31st 2013.  The aggregate deduction of $500,000 under Internal Revenue Code Section 179 is most beneficial to small businesses that place in service less than $2,000,000 of "Section 179 property" during this year (vehicles and other business property.) The $500,000 deduction decreases by a dollar for every dollar spent in section 179 property in excess of $2,000,000.  
2 Each $25,000 deduction contributes to the $500,000 aggregate deduction limitation under section 179.  Passenger vans that sear nine (9) or fewer people behind the driver's seat will have a limit of $25,000.  Vans that seat ten (10) or more people behind the driver's seat and cargo vans will have a $500,000 aggregate limit under section 179 on the amount of first-year deduction. 
3 On the purchase of a new vehicle, each $25,000 deduction contributes to the $500,000 aggregate deduction limitation under section 179, SUVs over 6,000 lbs. GVWR will have a limit of $25,000 plus 60% depreciation on the remaining basis, if any, then normal depreciation under MACRS method on the remaining basis, if any.  

4 IRS Section 280F(d)(7)(B) requires that the limitation under IRS section 280F (a)(1) be adjusted annually, based on the CPI automotive component for October of the preceding year.  Section 280F depreciation limits in Revenue Procedure 2013-21.  The passenger automobile limitation is $3,160, the trucks/vans under 6,000 lbs GVWR respectively.  Modified Accelerated Cost Recovery System (MACRS).  The expensing restriction under section 280F do not apply to vehicles that are considered to be "qualified non-personal use vehicles".  (QNUVs). A QNUV is generally a vehicle that, by virtue of its nature or design, is not likely to be used more than a de minimis amount for person purposes. For more information, see Income Tax Regulation Section 1.280F-6(c)(3)(iii), Income Tax Reg.Sec. 1.274-5T(k), and Revenue Ruling 86-97, and contact your tax advisor as to the proper tax treatment of all business-vehicle purchases.  2013 vehicles shown.  Vehicles are for representation purposes only.  See Gresham Ford for complete details.  

Visit the Gresham Ford Fleet department at 2173 East Powell Blvd. in Gresham or contact a Commercial Account Manager directly at 503-669-5343.