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15Feb/110

SUV Tax Deduction proves to be a catalyst for SUV Sales

(PRWEB) February 26, 2003

November 14, 2002

SUV Tax Deduction

As 2002 is winding down, everyone needs to be thinking about maximizing their tax deductions. This month's letter details some tax tips you may not know about. I hope everyone finds it helpful and informative. You may or may be able to use this tax advice. I urge you to consult a TAX EXPERT before you implement a tax strategy based on this information.

Thinking about a new business vehicle? How about an SUV or a PICK-UP?

The IRS normally limits the depreciation that can be deducted on the purchase price of a business vehicle. And, that limit is pretty small - only $ 3,060 for the first year for a 100% business use vehicle. However, for some business "trucks" the first year depreciation can be as high as $ 24,000. A "truck" is defined by IRS as a vehicle with over 6,000 lbs. of gross weight. This gross weight of the vehicle is displayed on the inside of the driver's door.

Just buy one of the following vehicles:

2002 Vehicles with Gross Vehicle Weight Ratings (GVWR's) of more than 6,000 pounds

Cadillac

Escalade SUV

Chevrolet

Astro Passenger Van AWD

Avalanche Pickup

Express Van

Silverado Pickup

Suburban SUV

Tahoe SUV

Dodge

Durango SUV

Ram Van

Ram Maxi Van

Ram Wagon

Ram 1500 Pickup

Ram 2500 Pickup

Ram 3500 Pickup

Ford

Excursion SUV

Expedition SUV

Econoline (E150, E250, E350) Van

Econoline Wagon

F150 Pickup

F250 Pickup

F350 Pickup    

GMC Yukon -(including XL and Denali) SUV

Safari Passenger Van AWD

Savana Van

Sierra Pickup

Sierra Denali

Land Rover

Discovery Series II SUV (2001)

Range Rover SUV (2001)

Lincoln

Blackwood Pickup

Navigator SUV

Mercedes

M-Class -

(ML 32, ML 500, ML55 AMG)

Toyota

Land Cruiser (4WD) SUV

Sequoia SUV

Tundra Pickup (Limited models)

I urge you to consult a TAX EXPERT before you implement a tax strategy based on this information.

For more information visit www.selfemployedtexas.com or www.selfemployedweb.com



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