Incentives for Small Business Owners

2024 First Year Depreciation Limits


Up to 60% of the total purchase price deduction per vehicle.

Wagoneer:
• All trims

Grand Wagoneer:
• All trims

The Details

Now is the time to purchase the additional vehicle(s) needed for your business. 60% expensing for federal income tax purposes may be available on your next Wagoneer or Grand Wagoneer purchase.

Section 168(K) Temporary 60% Expensing


Wagoneer and Grand Wagoneer vehicles are 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. Consult your tax professional to determine your vehicle depreciation and tax benefits.

Section 179 First-Year Expensing


Wagoneer and Grand Wagoneer vehicles are 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 be allowed to take it as a deduction for the taxable year in which the property is acquired and placed in service. A qualifying business may expense up to $1,220,000 of Section 179 property during 2024. Consult your tax professional to determine your vehicle depreciation and tax benefits.