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-   -   Does WK2 Qualify for Section 179 Tax Deduction? (http://www.jeepgarage.org/f73/does-wk2-qualify-for-section-179-tax-deduction-12362.html)

seanster 08-28-2010 08:40 PM

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,

J13ntv 08-28-2010 10:34 PM

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.

seanster 08-29-2010 01:08 AM

Re: Does WK2 Qualify for Section 179 Tax Deduction?
 
Quote:

Originally Posted by J13ntv (Post 260658)
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.

Jim Hef 08-29-2010 01:16 AM

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

WolfeWS6 08-29-2010 09:32 AM

Re: Does WK2 Qualify for Section 179 Tax Deduction?
 
Quote:

Originally Posted by seanster (Post 260737)
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.:confused:

Jim Hef 08-29-2010 10:49 AM

Re: Does WK2 Qualify for Section 179 Tax Deduction?
 
Do you want to add any insight to the thread???

seanster 08-29-2010 12:10 PM

Re: Does WK2 Qualify for Section 179 Tax Deduction?
 
Quote:

Originally Posted by Jim Hef (Post 260796)
Do you want to add any insight to the thread???

Haha. Thanks, JH.

socal2ks 09-03-2010 04:52 PM

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.

seanster 09-03-2010 06:49 PM

Re: Does WK2 Qualify for Section 179 Tax Deduction?
 
Quote:

Originally Posted by socal2ks (Post 262847)
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.

socal2ks 09-03-2010 08:55 PM

Re: Does WK2 Qualify for Section 179 Tax Deduction?
 
Quote:

Originally Posted by seanster (Post 262892)
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.

nek121328 09-04-2010 07:23 AM

Re: Does WK2 Qualify for Section 179 Tax Deduction?
 
Tuesday, Monday's a holiday

boarderman23 09-04-2010 07:37 AM

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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