I bought my truck in 2003, my taxes have long been done and now I hear about a tax write off for anything over 6000lbs.





What's the deal and what if anything should I do?

Here is a little info on the subject. Try a search and see if there is any info on it.



http://www.bankrate.com/brm/itax/tax_adviser/20030729a1.asp

Oh Yes..Been this route a few times. If you buy a vehicle that has a gvw of 6000 lbs or over and is used for business, you can write off the whole value of the purchase price off of your gross taxable income. If you are buying and not trading in anything, it's great. However, if you are trading in another vehicle, you will only get the tax advantage on the DIFFERENCE. Also if you sell a 2001 or so truck and replace it with the new truck, you will pay capital gains on the sale of the old truck because it will probably already be depreciated. This tax gain will offset the tax savings on the new truck. Don;t forget that this deduction can only take place in the 2003-2004 tax years. Good Luck.

I never took a truck in one year think i have my trucks drepatate over 5 years. Give all that info to your account, that what you pay them to do .Edited by: Turfmower