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As a small business owner, you can indeed write off a portion of your new F-150 purchase, but it's not as simple as writing off 100% of the cost in the year you buy it. The IRS has specific rules about how you can depreciate vehicles for business use.

First, you need to determine how much of the vehicle's use is for business. Only the business portion of the vehicle's use can be depreciated. For example, if you use the truck 70% for business and 30% for personal use, you can only depreciate 70% of the cost.

The IRS also has limits on how much you can depreciate each year for passenger vehicles. For trucks and vans, the maximum depreciation deduction for the first year is $10,200, or $18,100 if you qualify for bonus depreciation. The limits are lower for subsequent years.

However, there's a special tax rule called Section 179 that allows you to deduct the full cost of certain types of business property in the year you place them in service, up to a limit. For 2023, the Section 179 limit is $1,050,000. But there's a catch: the total cost of all property you buy and place in service during the year can't exceed $2,620,000, or else the deduction starts to phase out.

The F-150 might qualify for the full Section 179 deduction if it's a certain type of truck. The vehicle needs to have a gross vehicle weight rating (GVWR) over 6,000 pounds to qualify for the full deduction. Many F-150 models do meet this requirement, but you should check the specifics of the model you're considering.

Remember, even if you qualify for the Section 179 deduction, you can only deduct the business-use portion of the cost. So if you use the truck 70% for business, you can deduct 70% of the cost up to the Section 179 limit.

Keep in mind that tax laws are complex and this is a simplified explanation. It's always a good idea to keep detailed records of your vehicle use and expenses, and to consult with a tax professional if you have any doubts.