Section 179 Tax Deduction at Gandrud Chrysler Dodge Jeep Ram
Want to steer into 2025 with business benefits that will help boost productivity while still being financially savvy? The Section 179 tax deduction presents an incredible opportunity to do just that, helping you save on new vehicle purchases that will add some extra wind to the sails of your business's momentum.
At our auto dealership in Green Bay, we're committed to helping local businesses in Wisconsin take full advantage of this tax benefit by offering a diverse selection of qualifying commercial vehicles from Ram, Jeep, Dodge and Chrysler. Visit Gandrud Chrysler Dodge Jeep Ram today to view our new SUVs for sale or learn about our pre-owned Ram trucks. We want to help take your business to the next level!
What Is Section 179?
Section 179 is a tax code designed to help businesses at the small and medium level. The goal is to help these businesses invest in themselves by allowing them to write off the entire purchase price of qualifying equipment and vehicles within the tax year they are bought and put into service. If this sounds like your business, and you've been looking to expand your fleet while reducing your taxable income, the Section 179 tax deduction is likely a perfect option for you!
Chrysler, Dodge, Jeep & Ram Models Eligible for Section 179
At Gandrud Chrysler Dodge Jeep Ram, a variety of our commercial vehicles qualify for the Section 179 deduction. Whether you need a robust Ram truck for tough jobs or a versatile Jeep SUV for off-road responsibilities, we have new Ram trucks, used Chrysler vans and plenty of additional options that can meet your business needs. Key models eligible for Section 179 include:
- Ram 1500
- Ram 2500
- Ram Promaster®
- Jeep Wrangler Unlimited
- Jeep Grand Cherokee
- Chrysler Pacifica
- And more!
2024 Section 179 Deduction Limits
For the 2024 tax year, businesses can write off up to $1,220,000 on qualifying equipment and vehicles, with a spending cap of $3,050,000.1 However, it's important to act quickly, as these deductions are only applicable to vehicles purchased and put into service by December 31, 2024.
How to Claim the Section 179 Deduction in Wisconsin
Claiming your Section 179 deduction is easy, and our finance team is ready to guide you through the entire process. Simply purchase a qualifying vehicle, use it for business purposes at least 50% of the time and file IRS Form 4562 with your tax return. We'll handle the rest and ensure you understand all requirements and maximize your savings.
Claim Section 179 Savings in Green Bay Today!
Ready to enhance your business fleet with a new vehicle and Section 179 savings? Visit our Green Bay CDJR dealership to shop our extensive inventory of new and used Section 179-eligible models. Don't miss out on this valuable opportunity to save and invest in your business's future!
1Information accurate as of publishing date. Please consult https://www.section179.org for the most up-to-date details.