Monday, November 21, 2011

100% Tax Deduction - Expiring 12-31-2011

There are two tax saving opportunities that are designed to stimulate the economy, but make great sense for small business.  There are two IRS Code sections that help utility, service truck, and transferable truck bodies purchases before year end.  They are #179 that allows 100% tax deduction of qualified property placed in service before 12/31/2001 and section 168K - bonus depreciation offers 100% tax deduction on qualified property purchased and placed in service between 9/8/2011 and 12/31/2011.

So what is qualified property?  All trucks over 6000 lbs Gross Vehicle Weight (GVW) are qualified for the bonus deprecation.  We recommend that you speak with your tax advisor if you have any other questions, but taking advantage of these stimulus deductions can put CASH into your companies coffers.  New Trucks only... unfortunately.

Fleetwest is offering special pricing on select models for year end (go to http://www.fleetwest.net/ to see the specials).  Couple that with 100% tax deduction against your 2011 taxes, and it is a WIN - WIN!


You can put a new Transferable Truck Bodyon a used truck... and deduct 100% of the new Transferable Truck Body. 

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