Todd W
01-23-2006, 05:00 PM
This may be an odd question...
On top of website publishing, and programming I do mobil PC Repair (to people's homes). ALso to do some of my article writing I have to drive places to pickup parts and take pictures, etc.
So my scenerio is this. In Sept. 05 I got a new truck (Ford F250 Diesel - over 6,000 lbs). I can either depreciate the vehicle over the years or for the first year (2005) take a large deduction [Which would pretty much make me owe nothing this year, after combing the truck wtih other write-offs].
I`m pretty sure on paper I`ll be able to prove 75% of the trucks' life has been for work. So from what I`ve gathered I can write off 75% of the trucks value in a deduction this year :confused: Correct ?
Is there any reason not to do this?
If I remember correctly this was one of the reasons those new H2s were going off the lots to business men when they first came out - huge tax breaks... (ANd the truck weighs as much if not more so it fits in the same deduction weight class)
On top of website publishing, and programming I do mobil PC Repair (to people's homes). ALso to do some of my article writing I have to drive places to pickup parts and take pictures, etc.
So my scenerio is this. In Sept. 05 I got a new truck (Ford F250 Diesel - over 6,000 lbs). I can either depreciate the vehicle over the years or for the first year (2005) take a large deduction [Which would pretty much make me owe nothing this year, after combing the truck wtih other write-offs].
I`m pretty sure on paper I`ll be able to prove 75% of the trucks' life has been for work. So from what I`ve gathered I can write off 75% of the trucks value in a deduction this year :confused: Correct ?
Is there any reason not to do this?
If I remember correctly this was one of the reasons those new H2s were going off the lots to business men when they first came out - huge tax breaks... (ANd the truck weighs as much if not more so it fits in the same deduction weight class)