Tax write off for trucks

M

madazskunk

New member
There was a newspaper article in the business section of yesterdays(12/23) dallas morning news that said you can writeoff your entire truck for the year if it's used for 100% of your business. It seems most people including accountants don't know about this law but it really does exist. This law only applies to heavy trucks I forgot the weight but most full size suv's and trucks were included. I know the gas cost might kill you but being able to write off your entire truck might be worth it if your looking at getting a new vehicle. Don't know if this will help anyone but thought you mobile guys might like to know.
 
This tax "loophole" has got a lot of press in the past year. The Bush admin expanded it, some in Congress want to close it, and who knows what's going to happen to it in 2004.



Its the reason I bought a new truck this year as well as a few other people I know. The qualification is the truck must have a GVRW of 6000lbs or more. Basically this means full sized trucks and large SUV's.
 
You must log in or register to reply here.
Back
Top