This is an offer from D.W. Lift Sales that big-rig truckers probably don’t want to skip town on.
It goes back to 2008, when President Bush signed H.R. 5140, otherwise known as the “Economic Stimulus Act of 2008.” By way of this Act, IRS Section 179 deduction limits increased from $125,000 to $250,000. And the money’s just been going up ever since. The latest and 5th version of this is H.R. 4853, the “Tax Relief Act of 2010.” It goes above and beyond the old 2008 legislation, raising the limits of Section 179 limits to $500,000 and – get this – lets a business take a tax depreciation deduction equal to 100% of the cost of the new equipment. The increased Section 179 limit’s been extended through tax years beginning on or before December 31, 2011. The 100% depreciation deduction is available on new equipment purchased before December 31, 2011. That includes computers. That includes machinery. That means office furniture (if you’re into that kind of thing). But most importantly for you and for D.W. Lift Sales that means depreciation on business vehicles that have a gross weight of over 6,000 pounds.
Need a modification on your truck? No problem, as long as the modifications come with the complete purchase price. Need an extended warranty with that Peterbilt or Freightliner? You bet, so long as they’re included in the total purchase price of the vehicle.
At D.W. Lift Sales we sell brand-new Peterbilts and Freightliners to those hardy souls who keep America up to speed and delivering on time. And being in this business for as long as we’ve been in it, we get just how big an investment a freight truck is for almost anybody. So in all honesty, you should probably go ahead and consult a tax advisor before making the big trip down to our shop.
That being said, the deadline reads clearly, “December 31, 2011.” That means it’s down to the wire, no fine print about it. Don’t wait for the New Year’s Ball to drop on this one. It’s time you started 2012 with a new engines – and massive savings.