FordExcursions.com Forums
edward rudinski
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• ormond beach, FL, USA |
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• Registered on 11/20/2003 |
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• 15 posts |
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 Posted:12/12/2003 15:51 |
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Does anyone know off hand if the Ex qualifies for the big tax write off (approx 29K) based upon its weight? Thanks. |
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LANDYOT
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• Subscriber since 11/23/2003 |
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• Newport News, VA, USA |
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• Registered on 7/15/2003 |
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• 1,110 posts |
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Posted:12/12/2003 16:01 |
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I believe so IF it's being used for bonafide business purposes more than "x"-percentage (pun intended) of its annual miles ... but since I don't do that myself, don't hold my feet to the fire if I'm wrong. |
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monsta
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• The Big Island, HI, USA |
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• Registered on 1/5/2002 |
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• 1,056 posts |
• 2 Vehicles
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Posted:12/12/2003 17:59 |
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Yes.
The weight is 6800# or is it 8600#?? Aw crap...the dyslexia is killin' em...er...I mean, me.
Either way, it qualifies. See your tax advisor for usage requirements.
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Douglas Dircks
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• New Richland, MN, USA |
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• Registered on 11/13/2003 |
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• 118 posts |
• 1 Vehicle
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Posted:12/13/2003 09:07 |
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The gross vehicle weight has to be 6,000lbs or more.
To write off it has to be used for business at least 55% of the time.
Our X is 9,100 GVW the F250 is 8,900 GVW
A guy who runs a delivery business could buy two loaded 04 Excursions December 31 and write off the totall purchase amounts for the 2003 tax year! The limit is $100,000 each year and it's suppose to stay that way until December 31 of 2005. Although our democrat friends  are trying to get rid of it and put it back to the old $24,000 a year plan. They say more and more people are going out and buying gas guzzlin Excursions and Hummers.
Personally writing off over a 5 year span is what I do, I usually keep the PSD's for a while.
I'm write off my 99 F250 100% for work, am planning to write off the X for 56% business use 
Even most half ton Ford are over 6,000 GVW My wifes 95 Bronco is 6,050 GVW even.
I saved paying in $4,500 a few years back because I called my tax guy and said that my 99 F150 was 6,200 GVW, huge savings!!!  He thought it was under and put it in the luxury vehicle catagory (any vehicle with under 6,000GVW ).
A business owner can really write off anything they find deemable or reasonable for business use.
The worst part is that you have to trade in when you depreciate or you have to pay taxes on whatever the difference is between the selling price and depreciation value. For example if my 99 F250 is depreciated to $10,000 and I sell it outright for $20,000 I have to pay taxes on $10,000 as if it were income  Hence trading in is the only way to go plus the sales tax is not being payed on the trade in value.
00 Excursion Limited 4x4 PSD 265/75/16 Ravo's Centerline rims Python 871XP
99 F250 x-cab short bed XLT 4x4 PSD 295/75/16 American Racing rims Viper 550 ESP stainless steel MAAP nerf bars Putco four piece grill inserts bumper poles and mud flaps air bags triple pillar pod Autometer Ultra Light fiberglass tannue cover and topper programmed pcm pulling 22 psi
99 F350 crew cab long bed drw Lariat 4x4 PSD 255/85/16 Python 871XP AIS fold down fifth wheel ball |
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