Tax Benefits for Ram Commercial Trucks
Tax Benefits for Ram Commercial Trucks
Head to Junction Auto Sales and Save Money
A Ram truck is generally considered qualified property for section 168(k) purposes for U.S. federal income tax purposes. This means a taxpayer may elect to treat the cost of eligible property as an expense allowed as a deduction for the taxable year the property is acquired and placed in service. Made with your business in mind, the 2022 Ram Commercial Trucks offer an enhanced interior and a more efficient powertrain. They also provide updated technology and newly available seating options for you and your crew. Now is the time to purchase those additional vehicles needed for your business, as 100% expensing for federal income tax purposes may be available on your next Ram Truck purchase.
Ram Commercial Trucks That Qualify For Tax Brakes
Engineered to be a powerful, versatile workhorse with exceptional towing and hauling capability, Ram Commercial Trucks can be upfit to suit even the most giant jobs. Plus, with the ability to deduct up to 100% of the Total Purchase Price Deduction. If you purchase a Ram 1500, 2500, 3500 Ram ProMaster, or a Ram Chassis Cab, you can deduct 100% of the purchase price. If you buy a Ram ProMaster City Passenger Wagon, you can deduct up to $18,000 or the total purchase price.
Section 168K 100% Expensing
If you have purchased any of the above-listed vehicles under section 168k of the U.S. federal income tax, they are considered qualified property. This means as a taxpayer. You can elect to treat the cost of qualified property as an expense allowed as a deduction for the taxable year in which the property is acquired and placed in service. For example, if you bought a new 2021 Ram 2500 and the purchase price was $45,000, you will now have a $45,000 tax deduction.
Section 179 First-Year Expensing
Under section 179, Ram Commercial Trucks are typically considered property for U.S. federal income tax purposes. Business owners can choose to treat the cost of any qualifying property as an expense and allow it as a deduction for the taxable year in which the property is acquired and placed in service. You can expense up to $1,050,000 of Section 179 property during 2021.
Visit Junction DCJR For All Your Business Needs
If you are a business owner and in the Cleveland area, then head over to Junction CDJR's commercial division. We are a fifth-generation, same-family-owned business that still runs our business in a friendly, honest, old-fashioned manner with family values. So come let us help you save even more money.
May not represent actual vehicle. (Options, colors, trim and body style may vary)
Max payload/towing estimate ratings shown. Additional options, equipment, passengers, and cargo weight may affect payload/towing weights. See dealer for details.