SUV Tax Deduction - SUV Tax Break - Tax Planning Strategies.
Deduct the purchase price of a new SUV.
November 14th, 2002
*********READ THIS
FIRST*****
The SUV Tax Deduction has been radically
changed and reduced - READ HERE
**************************
Updated 2004 Info
Here
NOTE: Please consult your TAX PROFESSIONAL to see if you
can use the SUV TAX deduction for your business.
Related
Articles:
SUV Tax Deduction Update -
MUST READ!
SUV TAX DEDUCTION LIST
Tax Deductible SUV
Section 179-SUV Tax Deduction
SUV Tax Deduction - Section 179
Pitfalls
SUV TAX Loophole
As 2002 is winding down, everyone needs
to be thinking about maximizing their tax deductions. This month's
letter details some tax tips you may not know about. I hope everyone
finds it helpful and informative. You may or may be able to use this
tax advice. I urge you to consult a tax expert before you implement a tax strategy based on this information.
Thinking about a new business vehicle?
How about an SUV or a PICK-UP?
The IRS normally limits the depreciation that can be deducted on the
purchase price of a business vehicle. And,
that limit is pretty small - only $3,060 for the first year for a 100%
business use vehicle. However, for some
business "trucks" the first year
depreciation can be as high as $24,000. A "truck" is defined by IRS as a
vehicle with over 6,000 lbs. of gross weight. This gross weight of the
vehicle is displayed on the inside of the driver's door.
Please contact your CPA
regarding details on this deduction!
