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Ford Motor Smart In Sending Out An IRS Tax Deduction Reminder About Buying New Vehicle.

Have always drove Jeeps for decades and all the kids do too but every once in a while, thanks to IRS tax deduction incentives, suddenly parking something bigger in the dooryard happens.

Especially when section 179 of the IRS tax codes allow many businesses to deduct up to the full price of qualifying equipment purchased or financed during the 2010 tax year. You may be able to buy equipment used in your business that may be 100 percent deductible from your gross taxable income this year.

The catch? Has to be a heavy hitter, weigh, have a gross vehicle weight greater than 6000 pounds. 4660 pounds for a new Grand Cherokee Jeep does not quite tip the scales in favor of an IRS deductions. For SUV vehicles, including trucks with a bed less than 6 feet and  not weighing over 6000 GVWR can qualify for a maximum first year deduction up to $25,000 of the full purchase price plus normal 20% depreciation on any remaining balance. Other deductions under normal depreciation for up to $11,060 per vehicle the first year can apply too.

The last time this incentive was out there when ready to order a new Jeep, instead bought a Ford Excursion.

Which is, or was because they stopped making them one tall, large drink of water. So tall it would not fit in a standard garage and had to use a ladder to get to the top to wash it.  But with the deduction, it ended up way way cheaper than buying a cheap that was a little underweight, not fitting in to the IRS Section 179 tax deduction vehicle category requirements.

Ford just sent me another mailer figuring it worked last time. Problem is only 30,000 miles on a 2008 Jeep Grand Cherokee and not really ready to make a purchase. But got me thinking new car smell, looking over the shiny propaganda marketing of vehicles to use listing, marketing, selling real estate. 4872 is the weight of a Jeep Commander which I had back before the current Jeep. So it's not quite big enough to get the maximum deduction either unless the rocket launcher, hemi engines and lots of options add to the total weight. If you saved, take advantage of discounts, legal deductions, this is the best of times for any little ren hen worker, saver. What kind of economy you personally are going through depends if you prepare for the one ahead of your current one. Maine, big state, friendly people, 6000 lakes! Own some, a chunk, piece of Maine.

I'm Maine REALTOR Andrew Mooers

info@mooersrealty.com | 207.532.6573

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Comment balloon 0 commentsAndrew Mooers | 207.532.6573 • December 08 2010 04:01PM
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