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View Full Version : $100,000 next five years


Tharrell
05-11-2003, 09:13 AM
Well, I finally had time to read a newspaper yesterday. Looks like they raised the write off to $100,000 for the next five years. Go get your new trucks, trailers, skidsteers, computers etc...

bruces
05-12-2003, 12:49 AM
Originally posted by Tharrell
Well, I finally had time to read a newspaper yesterday. Looks like they raised the write off to $100,000 for the next five years. Go get your new trucks, trailers, skidsteers, computers etc...

Is it passed yet?

I believe it is just proposed.

Last I saw, house & senate had separate versions. Probably something will pass sooner or later.

Remember, you are just pushing future years deductions forward, but if you need the equipment anyway, the write off helps.

And if you are financing, you are taking writeoffs now, next year you will still have payments but no writeoffs.

LAWNGODFATHER
05-14-2003, 06:31 AM
Trucks 7 years, everything else right away.

CPA said time for new trucks.

nelbuts
05-16-2003, 12:35 AM
Actually unless they changed it in the past hour or so it is $75,000.00 a year. BTW you could write off up to $35K last year and that included a truck. Had a friend who bought a hold over Hummer for his sod business and wrote off the $35K.