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( DisclosureThis incentive is offered by a third party and is subject to change without notice. Please confirm this information to ensure its accuracy and availability. Consult a tax professional for details and eligibility requirements.)
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.