Chevy SSR Forum banner

1 - 2 of 2 Posts
J

·
Guest
Joined
·
0 Posts
Discussion Starter #1
I verified with my accountant today that a truck over 6000 GVWR which can be found on the door jamb, is eligible for up to 100% write-off in year of purchase if used for business purposes.

Example: You pay $50,000 for SSR. You make $125,000. You deduct the $50,000 if all use is for business (ha, ha) and you pay taxes on $75,000.

Use has to be at least 60% business to deduct. If you use it 60% like I do, you will save $5,000 to $10,000 in 2004 taxes!

Suddenly, I love George Bush.

Yesterday, I told a dealer I would lease. Today I called to talk to the 30 year salesman to tell him I would buy instead. I didn't get to speak with him and was instead connected to what sounded like a very young woman in the finance department. After asking what a purchase payment would be, I casually asked her if she had ever heard of this tax break. Now get this, he reply was "Sure as long as it is over 6000 lbs and the SSR is 6050."

I just said "Yeah, that's what I thought!"

Hell, I'd rather have an SSR than an Escalade anyday if Uncle Sam is willing to chip in like this.

Sorry for getting long but this info needs to get out amongst brethern.
 
1 - 2 of 2 Posts
Top