SUV and truck tax breaks !!! Check it out !
01-23-2003 | 08:50 PM
#1
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From: Flemington, N.J. U.S.A
SUV and truck tax breaks !!! Check it out !
Ok ,you all owe me a little comission for pointing this out now !!
http://www.detnews.com/2002/autosins.../c01-38875.htm
http://www.detnews.com/2002/autosins.../c01-38875.htm
01-23-2003 | 11:40 PM
#2
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From: SoCal
Re: SUV and truck tax breaks !!! Check it out !
Originally posted by boot
Ok ,you all owe me a little comission for pointing this out now !!
http://www.detnews.com/2002/autosins.../c01-38875.htm
Ok ,you all owe me a little comission for pointing this out now !!
http://www.detnews.com/2002/autosins.../c01-38875.htm
Rick
01-24-2003 | 04:53 PM
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From: Indy, St. Louis, LOTO
Couple of things to remember about sect 179 accelerated deductions: They are treated just like any other business asset. If you sell or trade it for a value greated than what it's on the books for, then that differece is treated as revenue and and will be taxed as such. Secondly, you have to have that much taxable EBT to write it off (you can't write off more under 179 than your business's taxable income). So, a small home-based business on the side that is little more than a hobby (by IRS standards) probably won't be of much help here.
That being said, I've used 179 for years with great sucess. It does work, but not flawlessly.
Chart
That being said, I've used 179 for years with great sucess. It does work, but not flawlessly.
Chart
