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Old 08-28-2010, 08:40 PM
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Does WK2 Qualify for Section 179 Tax Deduction?

Hi all. Can anyone confirm that any of the models qualify for the business deduction?

I know their listed GVWRs are 6500 to 6800, but thought I'd see if anyone has gone this route.

Thanks,
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Old 08-28-2010, 10:34 PM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

Good question... I dont have the new 2010 Federal Taxation book in-front of me.. However is the GVWR that much, I thought it was in the 5,000s for the 2011.
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Old 08-29-2010, 01:08 AM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

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Originally Posted by J13ntv View Post
Good question... I dont have the new 2010 Federal Taxation book in-front of me.. However is the GVWR that much, I thought it was in the 5,000s for the 2011.
4X4 Overland:
-Curb weight is 4850 (V6), 5210 (V8)
-GVWR is 6500 (V6), 6800 (V8)

I have my tax person looking into it, but won't hear anything for a couple weeks. I hope it qualifies.

A $25,000 deduction is nothing to is definitely worth looking into for a small business.
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Old 08-29-2010, 01:16 AM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

This poses a new question for the accountants, and could be a very nice incentive to order one just for this purpose! Thanks for starting this thread.

This one uses 6,000 lbs GVW, so the Grand wouldn't qualify:
"SUV’s and any 4-wheeled vehicle designed or used to carry passengers over public roads with a Gross Vehicle Weight (GVW) of more than 6,000 lbs and not more than 14,000 lbs (see below for limits on these heavy SUVs)"

I couldn't find any mention in the IRS publication of a cutoff weight at the bottom, but they do mention those above 14,000 lbs do not qualify:
http://www.irs.gov/publications/p463...blink100033971
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Old 08-29-2010, 09:32 AM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

Quote:
Originally Posted by seanster View Post
4X4 Overland:
-Curb weight is 4850 (V6), 5210 (V8)
-GVWR is 6500 (V6), 6800 (V8)

I have my tax person looking into it, but won't hear anything for a couple weeks. I hope it qualifies.

A $25,000 deduction is nothing to is definitely worth looking into for a small business.
You need to find a new tax person if an answer this easy takes a couple of weeks.
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Old 08-29-2010, 10:49 AM
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Unhappy Re: Does WK2 Qualify for Section 179 Tax Deduction?

Do you want to add any insight to the thread???
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Old 08-29-2010, 12:10 PM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

Quote:
Originally Posted by Jim Hef View Post
Do you want to add any insight to the thread???
Haha. Thanks, JH.
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Old 09-03-2010, 04:52 PM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

I would think it would qualify since it does exceed the GVWR requirement of 6000lbs.

My CPA just purchased one, so I will shoot her an email seeing if the WK2 qualifies.
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Old 09-03-2010, 06:49 PM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

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Originally Posted by socal2ks View Post
I would think it would qualify since it does exceed the GVWR requirement of 6000lbs.

My CPA just purchased one, so I will shoot her an email seeing if the WK2 qualifies.
Perfect person to ask. Thanks. Mine is out on vacation.
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Old 09-03-2010, 08:55 PM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

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Originally Posted by seanster View Post
Perfect person to ask. Thanks. Mine is out on vacation.
I forgot today is Friday, but im sure I will have an answer by Monday.
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Old 09-04-2010, 07:23 AM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

Tuesday, Monday's a holiday
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Old 09-04-2010, 07:37 AM
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Re: Does WK2 Qualify for Section 179 Tax Deduction?

What would be the requirement if this does qualify for the 25k deduction...that you use it primarily for business use?
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