Truck Taxes
 

anyone know about this 6000GVW tax write off??
thanks

Yes. Basically anything over 6000gvw that is bought by a company can be written off 100% this year with no depreciation. However, there is a limit of $100,000. This does not just apply to trucks but also equipment that normally would have been depreciated. I am not sure of the dollar amount where items have to be depreciated but I think it is $10,000. I was planning on trading in one of my trucks in the spring for a new one and my accountant told me to do it before the first of the year because the laws may change this year.

alot of hummers being bought because of this

ok here is what it is.. i have a truck that i bought this year and is over 6k.. but bought in Feb03 and i'm a 1099 person.. does that work and does it have to be a new truck??

I don't think it matters if its new or not. Being a 1099 person should not matter as long as you are listed as a business and have other deductions. I am assuming that your self employed?However, I would talk to a n accountant for details

cool.. it looks like i need some profesional help.. meaning cpa.. and maybe alittle work on the old mellon.. lol