2024 Section 179 Tax Deduction at Milnes Ford
Are you the proud owner of a small- or medium-sized business? Not only does our Ford dealership near Caro offer a huge selection of work-ready trucks, vans and more, but also the Section 179 tax deduction on qualifying models. What is Section 179, exactly? It's an exclusive tax incentive designed to help companies expand their fleet of vehicles while writing off the cost from their end-of-year taxes.
Whether the tax deduction lets you write off a partial amount or the full amount depends on weight and other factors. So, get all the information you need and enlist a new or used commercial vehicle in your fleet at Milnes Ford!


2024 Section 179 Tax Deduction Limits & Depreciation
Section 179 is an IRS tax code aimed at helping small- and medium-sized businesses affordably grow their fleet of work vehicles. Because this incentive is intended for small businesses, there are limits and deductions that must be followed to get the full amount written off.
The Section 179 limits for 2024 are as follows:
- 2024 Deduction Limit: $1,220,0001
- Valid on new and used equipment (must be new to buyer), whether purchased or leased
- 2024 Spending Cap: $3,050,0001
- After this cap is reached, deduction is reduced on dollar-for-dollar basis
- 2024 Bonus Depreciation: 60%1
- Applicable to new and used vehicles
- Generally taken after Spending Cap is reached
- Tax incentive that allows a business to immediately deduct a large percentage of the purchase price of eligible assets
Remember that you must place your vehicle into service no later than December 31, 2024, to qualify for this year's incentive.1 Let our Lapeer Ford finance experts know if you have any questions!
Section 179 Tax Deduction: Eligible Ford Models
No matter if a new Ford truck, van or SUV would suit your company the most, it's easy to save big thanks to Section 179. Many new and used Ford models are eligible for either a full or partial tax deduction, including, but not limited to:
- Ford F-150
- Ford Super Duty®
- Ford Transit Cargo Van
- Ford Transit Passenger Wagon
- Ford Expedition
- Ford Expedition MAX
- Other trucks & SUVs -- check with our team!
- Ford F-150
- Ford Super Duty®
- Ford Transit
- Ford E-Transit
- Ford Explorer
- Ford Expedition
Commercial Ford Vehicles Near Me
Whether you want to schedule a Super Duty® test-drive or learn more about Section 179-eligible Ford models, contact Milnes Ford in Lapeer. We're committed to helping your business not only grow, but thrive, and our commercial trucks and SUVs are here to help. Take advantage of Section 179 in Michigan with us!
Learn More: New Ford Trucks | New Ford SUVs | Hours & Directions
1 Information accurate as of publishing date. Please consult https://www.section179.org for the most up-to-date details.