Section 179 Enhanced

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With the passage and signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond.  Further, the bonus depreciation is now 100%. The bonus depreciation also now includes used vehicles.

Take A Look At Example Chart Below:

Section 179 Enhanced - 100% Tax Write-Off

Section 179 Enhanced - 100% Tax Write-Off

2017 Tax Year

2018 Tax Year


Section 179 Overall Limit

$500,000.00

$1,000,000.00


Section 179 Limit For F-Series Trucks & SUV’s

$25,000.00

$25,000.00


Bonus Depreciation

50.00%

100.00%


Additional 280f Depreciation (first year depreciation)

$11,160.00

N/A


Qualifying Vehicles

Only New

Both New & Used


Example Vehicle

F-250 Crew Cab

F-250 Crew Cab


Sales Price

$80,000.00

$80,000.00


Section 179 Deducation

$25,000.00

$25,000.00


Bonus Depreciation
2017 - 50% of Amount Remaining
2018 - 100% of Amount Remaining

$27,500.00

$55,000.00


Additional 280f Depreciation (first year depreciation)

$11,160.00

N/A


Total Depreciation

$63,660.00

$80,000.00


Total Depreciation (% of Purchase Price)

79.58%

100.00%

The tax consequences set forth above assume 100% business use and are for illustration purposes only. Hennessy Ford Lincoln Atlanta makes no representations or warranties concerning the accuracy of the information contained within. Prospective clients should consult with their individual tax advisors concerning the particular tax consequences to them under the Internal Revenue Code and other applicable federal and state laws.

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