Huge tax break for vehicles over 6000 pounds

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01-17-2003 | 02:07 PM

#11

CigDaze

Platinum Member

Joined: Jun 2001

Posts: 21,346

Likes: 10

F-250 GVWR = 8800#

01-17-2003 | 02:15 PM

#12

26scarab

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Joined: Mar 2001

Posts: 1,620

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From: st. clair shores mi ,us

I have to call the Tax lady when I get home ! My truck wieghs 6500# and technically I'm a contractor.

01-17-2003 | 05:08 PM

#13

Payton

Charter Member #927

Joined: Jan 2001

Posts: 4,834

Likes: 2

From: IN

I'm a farmer, and I've used this for my last 5 pickups. Although I'm not quite in the tax bracket they talk about.
Now that everyone knows about it, you can bet it's going to change.

01-17-2003 | 06:15 PM

#14

Mrs 283Check

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Posts: n/a

Quote:

Originally posted by Mrgoodwrench
Is this state or federal?

It's a federal tax law but if your state income tax is based off of your Federal AGI (Kansas and Missouri are examples of this) then the dedution will benefit you in both respects.