Tax Benefits of Owning a Ram Commercial Truck
Ram Commercial Truck Tax Benefits Michigan
As a business owner, you incur substantial expenses, especially if you have a fleet of vehicles. From fueling up to maintenance, everything is covered. However, did you know that you can write off those trucks? Most Ram Commercial trucks and vans qualify for substantiation tax benefits, with 100% expensing available for federal income tax purposes on your next Ram Truck purchase. Ram Commercial offers many other benefits for business owners, too.
Section 179 First-Year Expensing
A Ram truck is typically considered property under Section 179 for U.S. federal income tax purposes. This means that business owners can choose to treat the cost of any Section 179 property as an expense and deduct its use for the taxable year in which the property is acquired and placed in service. A qualifying business may expense up to $1,080,000 of Section 179 during 2022. The finance team at Pinckney Chrysler Dodge Jeep Ram recommends you always consult your tax professional to determine your vehicle depreciation and tax benefits.
Section 168(K) Temporary 100% Expensing
A Ram truck is almost always considered qualified property for Section 168(k) for U.S. federal income tax purposes. Like Section 179 under this tax benefit, 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 the depreciation of your vehicle and any applicable tax benefits.
Ram Telematics
Ram Telematics helps you monitor your entire business by providing real-time data about everything from your vehicles and drivers to fuel saving and productivity. In addition, it can help your fleet reach its full potential by providing various benefits, such as driver safety and security, financial transparency, and more.
BusinessLink
Take your business further with perks from our BusinessLink program and become the ultimate preferred commercial customer. When you sign up for BusinessLink to become a preferred retail customer, Ram can help boost your business by taking the time to understand your unique business challenges. Enrollment is quick and easy. Once on board, you’ll get many perks like expedited service, complimentary shuttles, loaner vehicles, and access to our trusted network of upfitters.
Pinckney Chrysler Dodge Jeep Ram is Here to Help You With All Your Business Needs!
With all these reasons to own a Ram truck or van, why don’t you? However, if you don’t yet own one, Pinckney Chrysler Dodge Jeep Ram would be happy to help you select your next Ram truck or van. We offer a wide selection of Ram trucks and vans on our lot, and our sales team is knowledgeable on all things Ram Commercial. In addition, we are proud to announce that we are the recipient of Chrysler’s prestigious Dealer of the Year award. This national award ranks us in the top 1% of all dealerships nationally and the #1 dealer in Michigan, Ohio, Indiana, and Kentucky.