Tax Breaks
For Business Owners

The tax code permits business owners to write off up to 100% of the purchase price of a new Ford vehicle purchased by December 31 ,2024.  

There are a few potential tax benefits available to business owners who lease or purchase a new vehicle in 2024.  See below for more information.  

In many cases, you may be entitled to immediately write off 100% of your purchase.*

"Work Vehicles" & SUVs

Eligible for 179 Expensing and/or Bonus Depreciation

Traditional Work Vehicles

Year 1: Write off up to 100% of the purchase price.

Eligible Ford Vehicles:

Chassis Cab

E-Series Cutaway

F-150 / F-250 / F-350 / F-450 (standard and long bed)

F-650

F-750

Super Duty

Transit
Transit CC-CA

E-Transit

Light Trucks & SUVs

Year 1: Write off up to $30,500, plus depreciation.

Eligible Ford Vehicles:

Expedition

F-150 (short bed)

Maverick

Ranger

Ford Lightning

Ford Lightning Pro

"Light" Vehicles

Eligible for Bonus Depreciation

Light SUVs and Cars

Year 1: Write off up to $20,400.

Eligible Ford Vehicles:

Bronco

Bronco Sport

Edge

Escape

Explorer

Mustang

Mustang Mach-E

EV Tax Credits

Business owners who purchase a qualifying EV by December 31, 2024 may be entitled to a $7,500 Commercial Clean Vehicle Tax Credit.

About Section 179

 

[placeholder]

 

About Bonus Depreciation 

 

[placeholder]

 

About 280F and “Luxury Vehicles”

 

[placeholder]

 

About the EV Tax Credit

 

[placeholder text]


Disclaimer

 

*The information provided above is for educational and informational purposes only and does not constitute legal or tax advice.   Tax benefits associated with a vehicle lease or purchase are dependent on the taxpayer’s personal situation.  Please consult your own advisor.  This is not a guarantee by the dealer of any

Subscribe to Our Newsletter

You Are OUR Heart & SOL

Heart&SOL is a daily newsletter at the intersection of AI, cryptography, and online culture.

Be first to the future.