"Goedjn" wrote in message
...
On Thu, 15 Feb 2007 22:41:06 GMT, "JoeSpareBedroom"
wrote:
"Steve B" wrote in message
news
"JoeSpareBedroom" wrote
The weight - that's a clue. There was a stupid deduction for big
trucks -
not sure if it was phased out. The law was purchased by the auto
industry. There may still be remnants of it.
Just got back from the tax lady. IRS Section 179 governs this, and it
is
in full force and effect. It is not a new law, either. Of these things
I
am "sure."
Huh.. lookit that.
It may be "not a new law', but's it's newer than my 3/4s of a
BS in accounting.
OK. I'm vague on this, but there was chatter about changing the tax law,
eliminating vehicles which are clearly recreational, only purchased by
neurosurgeons for their children. Like Hummers. It was the subject of lots
of buzz last year, when gas prices were ramping up.
You mean this part:
======================
You cannot elect to expense more than $25,000 of the cost of any heavy
sport utility vehicle (SUV) and certain other vehicles placed in
service in 2005. This rule applies to any 4-wheeled vehicle primarily
designed or used to carry passengers over public streets, roads, or
highways, that is rated at more than 6,000 pounds gross vehicle weight
and not more than 14,000 pounds gross vehicle weight. However, the
$25,000 limit does not apply to any vehicle:
Designed to seat more than nine passengers behind the driver's seat,
Equipped with a cargo area (either open or enclosed by a cap) of at
least six feet in interior length that is not readily accessible from
the passenger compartment, or
That has an integral enclosure fully enclosing the driver compartment
and load carrying device, does not have seating rearward of the
driver's seat, and has no body section protruding more than 30 inches
ahead of the leading edge of the windshield.
========================
The exceptions appear to be aimed at
school busses, box trucks, and commercial cargo vans.
My Bubba truck has the short bed, which is 6.5 feet inside. I guess it
qualifies.
Steve