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Old 05-11-2003, 08:13 AM
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Tharrell Tharrell is offline
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Join Date: Feb 2003
Location: Mount Airy, NC aka Mayberry
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$100,000 next five years

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...
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Old 05-11-2003, 11:49 PM
bruces bruces is offline
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Join Date: Jun 2001
Location: Independence, MO
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Re: $100,000 next five years

Quote:
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.
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Old 05-14-2003, 05:31 AM
LAWNGODFATHER LAWNGODFATHER is offline
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Join Date: May 2001
Location: St. Louis, Missouri Gateway to the west
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Trucks 7 years, everything else right away.

CPA said time for new trucks.
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Old 05-15-2003, 11:35 PM
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nelbuts nelbuts is offline
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Location: SW, FL
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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.
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