Steve Slatin on sun 16 nov 03
According to IRS Letter Ruling 9520034, it's the specified gross vehicle
weight that governs. The manufacturer identifies this; on my Sonoma
(actually my wife's, 1991, red, some rust, etc.) it's printed on a
label on the driver's side door frame. Successfully loading a vehicle
over it's GVW won't change anything.
Since it's a section 179 deduction, you have to be able to
charge it against business income, but it's generally not necessary
to demonstrate the purchase of the item contributed to income.
Also, under the new 179 rules, you can purchase at any time in the year
and take the deduction that year (no more messing around with quarterly
and half-year conventions) and if the folks promoting it AS A SCAM are
right, you could buy it December 30, charge it against income for the
current year, and January 1 of the following year choose to convert the
property to non-business use.
The fact that people selling the vehicles believe it's a scam sort of
tells the whole story.
-- Steve
-----Original Message-----
From: Clayart [mailto:CLAYART@LSV.CERAMICS.ORG] On Behalf Of
pdp1@EARTHLINK.NET
Sent: Sunday, November 16, 2003 7:29 PM
To: CLAYART@LSV.CERAMICS.ORG
Subject: Re: tax write off for your new vehicle? Watch yer weight!
Hi Gail,
What about a few sand Bags in the trunk?
If ye park it on a Bod Fairbanks Scale and get your Weigh
Ticket, can they dispute it?
Hmmmm...
Jeremy/Bonnie Hellman on sun 16 nov 03
Actually I believe the gross vehicle weight for US tax depreciation is not
the empty weight of the vehicle, but rather a number consisting of the
actual weight plus some average number of passengers with average weight.
But I could be wrong. This is what I was told.
The dealer should be able to tell you if the vehicle will qualify as 6,000
lbs or over. It's important enough that if I were buying such a business
vehicle, I'd want to be 100% sure.
Bonnie
----- Original Message -----
From: "Gail Phillips"
To:
Sent: Sunday, November 16, 2003 4:34 PM
Subject: Re: tax write off for your new vehicle? Watch yer weight!
Before anyone else gets too excited - I looked around at a few auto
manufacturer's websites, and where the heck the MSNBC article got its
vehicle weight info is beyond me. A Dodge Durango and a VW Touareg both
weigh under 6000 lbs., not over, as the article stated. You would have to do
some digging to find out if a vehicle you were interested in owning fit the
bill.
- Gail Phillips
-----Original Message-----
From: Clayart [mailto:CLAYART@LSV.CERAMICS.ORG] On Behalf Of Steve Slatin
Sent: Sunday, November 16, 2003 2:31 PM
To: CLAYART@LSV.CERAMICS.ORG
Subject: Re: tax write off for your new vehicle? Thats' it.....lets
encourage more pollution!
Larry --
Whether you're a "throwback to the 60's" or an authentic conservative,
this particular tax write off is bogus.
It is a special consideration for purchasers of vehicles of 6000 lbs
weight
or more. It's INTENTION was to differentiate between vehicles for
personal
use and those so unwieldy that only a complete ignoramus would use it
for,
say, commuting. When written, nothing with reasonable creature comforts
weighed three tons. As it was originally written, it was not
susceptible of misuse because you had to carry the vehicle over a period
of years anyway, and be ready with records (if challenged) to show it
was a bona fide business purchase.
Now that the automakers have given us three-ton behemoths the sole
purpose
of which is to go to the corner for a quart of milk, abuse becomes a
ready
possibility. Since the Congress provided extended expensing (now
$100,000)
per year for business purchases, owners of a business can write off
these purchase amounts in the first year. After the first year, the
utilization of the vehicle isn't subject to challenge (because it's no
longer being depreciated).
There are folks selling cars to along with instructions on how to create
a shell company to make the actual purchase, write off the cost, etc.
They are showing people how to avoid paying taxes by hiding the income
within a company that does no business except to purchase the car.
If you buy a Ford Ranger to take your pots to a craft show, it doesn't
apply. If you buy a Hummer -- which among its other characteristics is
a very hard vehicle to load and unload, and consequently unsuitable for
almost all business functions -- you can write it off.
This is an irrational outcome that exists only because of the
super-sizing of non-commercial vehicles. The handful of people who can
and will take advantage of it aren't, IMHO, significant consumers of
hand-made pottery anyway. If you are interested in seeing more folks
have disposable income for an $18 plate, or a $50 platter, the solution
comes at the other end of the tax/income equation.
Regards -- Steve S
-----Original Message-----
From: Clayart [mailto:CLAYART@LSV.CERAMICS.ORG] On Behalf Of Larry
Kruzan
Sent: Saturday, November 15, 2003 7:43 PM
To: CLAYART@LSV.CERAMICS.ORG
Subject: Re: tax write off for your new vehicle? Thats' it.....lets
encourage more pollution!
>It my be hard for anti-establishment throwbacks to the 60's to
understand,
____________________________________________________________________________
__
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You may look at the archives for the list or change your subscription
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Moderator of the list is Mel Jacobson who may be reached at
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Gail Phillips on sun 16 nov 03
Before anyone else gets too excited - I looked around at a few auto
manufacturer's websites, and where the heck the MSNBC article got its
vehicle weight info is beyond me. A Dodge Durango and a VW Touareg both
weigh under 6000 lbs., not over, as the article stated. You would have =
to do
some digging to find out if a vehicle you were interested in owning fit =
the
bill.
- Gail Phillips
-----Original Message-----
From: Clayart [mailto:CLAYART@LSV.CERAMICS.ORG] On Behalf Of Steve =
Slatin
Sent: Sunday, November 16, 2003 2:31 PM
To: CLAYART@LSV.CERAMICS.ORG
Subject: Re: tax write off for your new vehicle? Thats' it.....lets
encourage more pollution!
Larry --
Whether you're a "throwback to the 60's" or an authentic conservative,
this particular tax write off is bogus.
It is a special consideration for purchasers of vehicles of 6000 lbs
weight
or more. It's INTENTION was to differentiate between vehicles for
personal
use and those so unwieldy that only a complete ignoramus would use it
for,
say, commuting. When written, nothing with reasonable creature comforts
weighed three tons. As it was originally written, it was not
susceptible of misuse because you had to carry the vehicle over a period
of years anyway, and be ready with records (if challenged) to show it
was a bona fide business purchase.
Now that the automakers have given us three-ton behemoths the sole
purpose
of which is to go to the corner for a quart of milk, abuse becomes a
ready
possibility. Since the Congress provided extended expensing (now
$100,000)
per year for business purchases, owners of a business can write off
these purchase amounts in the first year. After the first year, the
utilization of the vehicle isn't subject to challenge (because it's no
longer being depreciated).
There are folks selling cars to along with instructions on how to create
a shell company to make the actual purchase, write off the cost, etc.
They are showing people how to avoid paying taxes by hiding the income
within a company that does no business except to purchase the car.
If you buy a Ford Ranger to take your pots to a craft show, it doesn't
apply. If you buy a Hummer -- which among its other characteristics is
a very hard vehicle to load and unload, and consequently unsuitable for
almost all business functions -- you can write it off.
This is an irrational outcome that exists only because of the
super-sizing of non-commercial vehicles. The handful of people who can
and will take advantage of it aren't, IMHO, significant consumers of
hand-made pottery anyway. If you are interested in seeing more folks
have disposable income for an $18 plate, or a $50 platter, the solution
comes at the other end of the tax/income equation.
Regards -- Steve S
-----Original Message-----
From: Clayart [mailto:CLAYART@LSV.CERAMICS.ORG] On Behalf Of Larry
Kruzan
Sent: Saturday, November 15, 2003 7:43 PM
To: CLAYART@LSV.CERAMICS.ORG
Subject: Re: tax write off for your new vehicle? Thats' it.....lets
encourage more pollution!
>It my be hard for anti-establishment throwbacks to the 60's to
understand,
_________________________________________________________________________=
___
__
Send postings to clayart@lsv.ceramics.org
You may look at the archives for the list or change your subscription
settings from http://www.ceramics.org/clayart/
Moderator of the list is Mel Jacobson who may be reached at
melpots@pclink.com.
pdp1@EARTHLINK.NET on sun 16 nov 03
Hi Gail,
What about a few sand Bags in the trunk?
If ye park it on a Bod Fairbanks Scale and get your Weigh
Ticket, can they dispute it?
Hmmmm...
Phil
Las Vegas
----- Original Message -----
From: "Gail Phillips"
To:
Sent: Sunday, November 16, 2003 3:34 PM
Subject: Re: tax write off for your new vehicle? Watch yer
weight!
Before anyone else gets too excited - I looked around at a
few auto
manufacturer's websites, and where the heck the MSNBC
article got its
vehicle weight info is beyond me. A Dodge Durango and a VW
Touareg both
weigh under 6000 lbs., not over, as the article stated. You
would have to do
some digging to find out if a vehicle you were interested in
owning fit the
bill.
- Gail Phillips
-----Original Message-----
From: Clayart [mailto:CLAYART@LSV.CERAMICS.ORG] On Behalf Of
Steve Slatin
Sent: Sunday, November 16, 2003 2:31 PM
To: CLAYART@LSV.CERAMICS.ORG
Subject: Re: tax write off for your new vehicle? Thats'
it.....lets
encourage more pollution!
Larry --
Whether you're a "throwback to the 60's" or an authentic
conservative,
this particular tax write off is bogus.
It is a special consideration for purchasers of vehicles of
6000 lbs
weight
or more. It's INTENTION was to differentiate between
vehicles for
personal
use and those so unwieldy that only a complete ignoramus
would use it
for,
say, commuting. When written, nothing with reasonable
creature comforts
weighed three tons. As it was originally written, it was
not
susceptible of misuse because you had to carry the vehicle
over a period
of years anyway, and be ready with records (if challenged)
to show it
was a bona fide business purchase.
Now that the automakers have given us three-ton behemoths
the sole
purpose
of which is to go to the corner for a quart of milk, abuse
becomes a
ready
possibility. Since the Congress provided extended expensing
(now
$100,000)
per year for business purchases, owners of a business can
write off
these purchase amounts in the first year. After the first
year, the
utilization of the vehicle isn't subject to challenge
(because it's no
longer being depreciated).
There are folks selling cars to along with instructions on
how to create
a shell company to make the actual purchase, write off the
cost, etc.
They are showing people how to avoid paying taxes by hiding
the income
within a company that does no business except to purchase
the car.
If you buy a Ford Ranger to take your pots to a craft show,
it doesn't
apply. If you buy a Hummer -- which among its other
characteristics is
a very hard vehicle to load and unload, and consequently
unsuitable for
almost all business functions -- you can write it off.
This is an irrational outcome that exists only because of
the
super-sizing of non-commercial vehicles. The handful of
people who can
and will take advantage of it aren't, IMHO, significant
consumers of
hand-made pottery anyway. If you are interested in seeing
more folks
have disposable income for an $18 plate, or a $50 platter,
the solution
comes at the other end of the tax/income equation.
Regards -- Steve S
-----Original Message-----
From: Clayart [mailto:CLAYART@LSV.CERAMICS.ORG] On Behalf Of
Larry
Kruzan
Sent: Saturday, November 15, 2003 7:43 PM
To: CLAYART@LSV.CERAMICS.ORG
Subject: Re: tax write off for your new vehicle? Thats'
it.....lets
encourage more pollution!
>It my be hard for anti-establishment throwbacks to the 60's
to
understand,
____________________________________________________________
________________
__
Send postings to clayart@lsv.ceramics.org
You may look at the archives for the list or change your
subscription
settings from http://www.ceramics.org/clayart/
Moderator of the list is Mel Jacobson who may be reached at
melpots@pclink.com.
____________________________________________________________
__________________
Send postings to clayart@lsv.ceramics.org
You may look at the archives for the list or change your
subscription
settings from http://www.ceramics.org/clayart/
Moderator of the list is Mel Jacobson who may be reached at
melpots@pclink.com.
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