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 $1,050,000 of Section 179 property during 2022.
Consult your tax professional to determine your vehicle depreciation and tax benefits.