Jeep Tax Benefits for Business Owners
Incentives for Small Business Owners
Deduct up to 100% of the purchase price of your new Jeep in the first year.
Tax benefits: one more reason to amp up your business with a Jeep brand vehicle.
2021 FIRST YEAR DEPRECIATION LIMITS
• Rubicon
• All models with available Max Tow Package (AJQ)
• Mojave
• All models with 3.0L EcoDiesel V6 engine (EXJ)GRAND CHEROKEE:
• Laredo
• Limited
• Trailhawk®
• Overland
• Summit
• SRT®
• Trackhawk®WRANGLER:
• Rubicon with available 3.0L EcoDiesel V6 engine
• All Wrangler 4xe models
THE DETAILS
Now is the time to purchase the additional vehicle(s) needed for your business. 100% expensing for federal income tax purposes may be available on your next Jeep® Brand vehicle purchase.
SECTION 168(K) TEMPORARY 100% EXPENSING
Select Jeep® Brand trucks and SUVs 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
A Jeep® Brand vehicle 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 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 $1,040,000 of Section 179 property during 2021.
Consult your tax professional to determine your vehicle depreciation and tax benefits.
Source: https://www.jeep.com/tax-benefits-for-businesses.html
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