Now is the time to purchase the additional vehicle(s) needed for your business. Current tax regulations may allow you to expense up to 100% of your truck purchase(s) during the first year of ownership.
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, allowed as a deduction for the taxable year in which the property is placed in service. A qualifying business may expense up to $500,000 of Section 179 property during 2016.
Consult your tax professional to determine your vehicle depreciation and tax benefits.
RAM ProMaster® City Cargo Van
RAM 1500 Quad Cab
RAM 1500 Crew Cab 6'4" Box
RAM Chassis Cab 3500
RAM Chassis Cab 4500
RAM Chassis Cab 5500
RAM ProMaster® 1500
RAM ProMaster® 2500
RAM ProMaster® 3500
ProMaster City passenger van may be eligible for up to $11,560 in total deductions in year 1. The listed property expensing restrictions provided in Section 280F do not apply to a vehicle that is considered to be a qualified nonpersonal use vehicle. A qualified nonpersonal use vehicle is by virtue of its nature or design not likely to be used more than a de minimis amount for personal purposes. For more information, see Income Tax Regulation Section 1.280F-6(c)(3)(iii), Income Tax Regulation Section 1.274-5(k)(7), Publication 946 - How to Depreciate Property and consult your tax advisor as to the proper tax treatment of all business-vehicle purchases.