Discussion in 'New Century Transportation' started by rkms, Sep 29, 2008.
See Tax Information Thread, subject as above.
I lost this thread and answerd Carlina Cowboy by private message - but here goes again.
If you are an O/O and have your name on the truck title, responsible for the taxes, and everything else. The gov't as part of the Stimulus package this year and next year is adding an ADDITIONAL 50% depreciation on top of the regular depreciation. Kicker is you have to have bought the vehicle/machinery new or used in 2008 or 2009. So say you paid $100,000 for the truck and trailer. Your truck has a life of 5-7 years. You could possibly get a $60,000 toward depreciation - I don't know how much those puppies actually cost but if you could take $40 - $60K off the top of your gross. Your wives or girlfriends could do a lot of economic stimulation.
Click on the pink tab in the Tax Information main menu or the purple tab above. Jeff designed them for me, and I thank him. Either will take you to my website from there click on IRS Update in the left hand column near the bottom it gives more info and the actual link to the IRS website that explains it further in IRSease. Or give me a call my number is posted and I will be glad to go over the disbelief on your part.
The Oct 15 deadline is for those people who haven't yet filed their 2007 Tax Return and have procrastinated. There is no extension - to be eligible for the rebates that most people got in May - Aug of this year. If they file on Oct 16 they are too late.
I think the jevic board generated more interest, even after we went out of business!!!!
I like how there is almost a month (if you look at the list of threads) between posts. What a waste of bandwidth and server space.