Tow Trucks That May Qualify for Section 179 in 2022

Is your next financed tow truck eligible for a tax deduction? Check out the list below.

By Beacon Funding| Oct 6, 2022| 411 Views
1 MIN
Tow Trucks That May Qualify for Section 179 in 2022

Does the tow truck you need financed qualify for a Section 179 deduction? Check out the incomplete list below -- it may qualify for a Section 179 deduction on your 2022 tax returns.

Trucks Based on Year...

  1. 2023 Truck Models
  2. 2022 Truck Models
  3. 2021 Truck Models
  4. 2020 Truck Models
  5. Truck Models Older than 2019

Tow Trucks That May Qualify for Section 179 Tax Deduction

The following trucks exceed more than 6,000 pounds in gross vehicle weight rating (GVWR). The truck models below include their average GVWR so you can easily check. The truck you need for your tow truck enterprise may qualify* for a Section 179 deduction.

2023 Truck Models

2023 Ram 3500 (10,700 to 11,400 lbs)

2023 GMC Sierra 1500 (6,700 to 7,200 lbs)

2023 Chevrolet Silverado 1500 (6,700 to 7,100 lbs)

2022 Truck Models

2022 Ford F250 (10,000 lbs)

2022 Ford F450 (14,000 lbs)

2022 Ford F650 (20,500 to 29,000 lbs)

2021 Truck Models

2021 Kenworth T880 (34,200 lbs)

2020 Truck Models

2020 Ford F550 (19,500 lbs)

2020 Ram 5500 (19,500 lbs)

Truck Models Older than 2019

2007 Peterbilt 378 (50,000 lbs)

2007 Peterbilt 379 (48,000 lbs)

2007 Chevrolet 3500 (9,700 to 11,400 lbs)

2004 International 4300 (23,500 lbs)

*Remember: Make sure to consult with your CPA or tax advisor prior to any equipment purchase to discuss the tax savings for your business.

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As the industry leader in tow truck financing, Beacon Funding can help you get the truck you need for low monthly payments that suit your business needs. If you’re ready to get a heads start, apply for tow truck financing today and hear back within 24 hours.

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10/20/2022