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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 $1,000,000 of Section
179 property during 2018.
Consult your tax professional to determine your vehicle depreciation and tax benefits.
Section 168(K)
Temporary 100-Percent 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.
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