Don't Miss Out on this years Vehicle Tax Advantages!
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Buy a qualified vehicle for your business in 2011 &
you could receive
significant benefits over waiting until 2012!
For Purchase Information or to Schedule a Test Drive...
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or Call Us: (903) 374-4526
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- Do you know that passenger vehicles with an Unloaded Gross Vehicle Weight of over 6000 pounds, and Trucks and Vans, including SUVs, with a Loaded Gross Vehicle Weight Rating (GVWR) greater than 6000 pounds are Not subject to the annual depreciation caps under luxury car rules?
- The first year "limitations" do Not apply to trucks and SUVs over the 6000 LB GVW threshhold so the 50% Bonus depreciation is really a factor with them!
- The maximum first year expensing amount for 2011 is $500,000. For 2012 this is reduced to $125,000. So, anyone who plans to purchase very much in the way of business vehicles may want to buy some this year (by 12/31/2011)!
- Also, for 2011 you are allowed bonus depreciation for the purchase of "new" commercial vehicles. The bonus depreciation equals 100% of the cost of qualifying purchases.Much the same as the first year expensing except only applies to "new" where first year expensing can also apply to "used."
- Following is a list of vehicles that are over the 6000 GVW limit for luxury automobiles. These vehicles should not be subject to the luxury car limits which means they should qualify for the full amount of section 179 expense and depreciation allowed by law. 2011 Make/Models include Buick Enclave, Chevy Silverado, Chevy Suburban, Chevrolet Tahoe, Chevrolet Traverse, Chevrolet Avalanche, and Chevy Express Cargo van. 2012 includes Buick Enclave, Chevy Silverado, Chevy Suburban, Chevy Tahoe and Chevy Traverse.
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*This is Not Tax advice and you should check with your CPA or Tax Advisor regarding your facts & circumstances. We just want you to be aware of possible benefits of purchasing in 2011 versus waiting until 2012. If you decide to purchase, come relax and enjoy the 'McKaig Experience"!
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