SECTIONS 179 AND 168(k): FIRST-YEAR EXPENSING AND DEDUCTION
A Chrysler vehicle may be considered Section 179 property or qualified property for purposes of Section 168(k) for US federal income tax purposes. Depending on your tax situation and/or bonuses in play, this can mean that SUVs and Crossovers with a gross vehicle weight rating (GWVR) exceeding 6,000 pounds but no more than 14,000 pounds may be eligible for up to 100% of the purchase price when combined with a bonus during the first year of ownership, and when the vehicle is used exclusively for business purposes. Section 179 deduction caps at $31,300 for vehicles over 6,000 pounds. The Vehicle should be placed in service in the year of the tax deduction, and also meet other conditions. Tax situations may vary for each individual. Federal rules and tax guidelines are subject to change. Consult your tax professional to determine your vehicle depreciation and tax benefits applicable to your business.