2021 FIRST YEAR DEPRECIATION LIMITS
Up to 100% of the Total Purchase Price Deduction per Vehicle
• Ram 1500
• Ram 1500 Classic
• Ram 2500 & 3500
• Ram 3500, 4500 & 5500 Chassis Cab
• Ram ProMaster
• Ram ProMaster City Cargo Van
• Ram 1500 Crew Cab (5’7’’bed)
Up to $18,100 of the Total Purchase Price Deduction per Vehicle
• Ram ProMaster City Passenger Wagon
THE DETAILS
Now is the time to purchase the additional vehicle(s) needed for your business.
100% expensing for federal income tax purposes may be available on your next Ram Truck purchase.
SECTION 168(K) TEMPORARY 100% EXPENSING
A Ram truck is generally considered qualified property for purposes of section 168(k) for U.S. federal income tax purposes. This means a taxpayer may elect to treat the cost of any qualified property as an expense allowed as a deduction for the taxable year in which the property is acquired and placed in service.
Consult your tax professional to determine your vehicle depreciation and tax benefits.
SECTION 179 FIRST-YEAR EXPENSING
A Ram truck is generally considered Section 179 property for U.S. federal income tax purposes. This means a taxpayer may elect to treat the cost of any Section 179 property as an expense and allowed as a deduction for the taxable year in which the property is acquired and placed in service. A qualifying business may expense up to $1,050,000 of Section 179 property during 2021.
Consult your tax professional to determine your vehicle depreciation and tax benefits.