Section 179 Tax Savings in Florida

If you’re a business owner planning to upgrade your fleet, the Section 179 tax deduction at Posner Park Chrysler Dodge Jeep Ram offers an excellent opportunity. This tax advantage allows you to write off up the entire purchase cost of qualifying vehicles, so long as they’re used for business purposes more than 50% of the time. And as a Certified Agriculture Dealership, we can offer exclusive benefits with our AgPack that can help you save thousands on farm and ranch equipment!

Learn More: Certified Agriculture Dealership

Dig a bit deeper into the Section 179 tax savings that are available for local businesses and let our team know if you’d like a closer look at one of our Ram pickup truck or Jeep SUV models. Stop by our Jeep and Ram dealership near Orlando for a test-drive!

2024 Ram 2500 towing a construction vehicle
2024 Jeep Grand Cherokee side profile parked in the woods

Why Choose Section 179?

By investing in new and eligible vehicles, your business can claim significant tax savings. This incentive is perfect for both small- and medium-sized enterprises aiming to advance their operations. Visit us to explore your options and speak with our knowledgeable team about this valuable deduction.

Understanding the parameters of the Section 179 tax deduction is critical for maximizing your savings. Here are some insights on the deduction, spending caps and bonus depreciation:1

  • 2024 Deduction Limit: $1,220,000
    • Valid on new and used equipment (must be new to buyer), either purchased or leased.
  • 2024 Spending Cap: $3,050,000
    • Upon reaching this cap, deduction is reduced on dollar-for-dollar basis.
  • 2024 Bonus Depreciation: 60%
    • This tax benefit enables a business to deduct a substantial percentage of the purchase price of qualifying assets immediately.
    • Typically claimed after the Spending Cap is achieved.
    • Applicable to both new and used vehicles.