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TAX Write-Offs for 2005
Exciting Tax Breaks that may be available to many people,
regarding certain vehicles that qualify for a Tax Depreciation, if you are a
Business Owner!
Because of the "Gross Vehicle Weight Rating" (GVWR) of
certain vehicles that exceed 6,000 pounds (Mercedes G500, Cadillac Escalade,
Ford Excursion, H2 - check with dealers for weight verification), they can
be depreciated when used for business, much more rapidly than luxury cars.
|
|
YEAR |
6,000 Pounds Vehicle $50,000 |
Luxury Car $50,000 |
|
One |
$30,000 |
$2,960 |
|
Two |
$8,000 |
$4,700 |
| Three
|
$4,800 |
$2,850 |
| Four |
$2,880 |
$1,675 |
| Total
Depreciation 1-4 Years |
$45,680 |
$12,185 |
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