$100,000 next five years

Discussion in 'Business Operations' started by Tharrell, May 11, 2003.

  1. Tharrell

    Tharrell LawnSite Silver Member
    Posts: 2,964

    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...
  2. bruces

    bruces LawnSite Senior Member
    Posts: 648

    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.
  3. Trucks 7 years, everything else right away.

    CPA said time for new trucks.
  4. nelbuts

    nelbuts LawnSite Bronze Member
    from SW, FL
    Posts: 1,053

    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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