Discussion:2008 vehicle purchase and 179 ded

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Discussion Forum Index --> Basic Tax Questions --> 2008 vehicle purchase and 179 ded
Discussion Forum Index --> Tax Questions --> 2008 vehicle purchase and 179 ded

Vermontcpa (talk\|edits) said:	2 July 2008
I know in 2006 you could purchase a vehcile for business purposes weighing over 6000 lbs and section 179 the first $25k, assuming it was 100% for busines. Is this rule the same in 2008? Thanks

PHIL MOODY (talk\|edits) said:	2 July 2008
Yes, and if new, the bonus depr is available, in addition to the regular depr calculation.

CrowJD (talk\|edits) said:	2 July 2008
Everyone's going to scooters around here. What gives?

CrowJD (talk|edits) said:

2 July 2008

I have gotten together a group of Vietnamese entrepreneurs around here and we're giving classes on what can be hauled on a scooter. It's amazing what those people can do. Most pigs and cattle going to market in Vietnam go by scooter. Steel, even concrete is transported in this manner. Then, there's the U.S. Postal Service, and UPS, to consider. So, I hope Congress comes through with something for the scooters. P.S. I forgot to mention, I saw one little fellar hauling an Escalade to the junk yard on a scooter yesterday. Anything's possible with American ingenuity.

Vermontcpa (talk\|edits) said:	2 July 2008
What if any sec 179 is available with same cicumnstances above but instead of purchase it is a 4 year lease? My guess no 179 deduction.. someone pls confirm so I can put this to rest. Thanks

Death&Taxes (talk\|edits) said:	2 July 2008
No 179 deduction for a true lease.

Omega1911 (talk\|edits) said:	4 July 2008
Hey CrowJD, first of all I love the sense of humor, secondly, if the scooter is used 100% for business can we get a 179 deduction?!?!? Ditto on the lease question.