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 $1,040,000 of Section 179 property.
Consult your tax professional to determine your vehicle depreciation and tax benefits.
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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.Â
Consult your tax professional to determine your vehicle depreciation and tax benefits.Â