Buy A Vehicle and Recover Your Money Faster, According to David M. Spitzberg, CPA

JENKINTOWN, Pa.--Sept. 4, 2003--Your company needs a new vehicle and you're willing to spend $50,000. Don't ignore new incentives built into the income tax system.

Assuming a 35% tax rate, year one savings of up to $3,749 can result from purchasing an automobile with an unloaded gross vehicle weight of 6,000 pounds or less. Consider an SUV with a gross vehicle weigh of 6,000 pounds or less. If modified so that it's considered a qualified non-personal use vehicle, year one tax reduction can be as high as $17,500. If you see another SUV that you really like but you're reluctant to spend another $10,000, find out if it has a gross vehicle weight of more than 6,000 pounds. If so, you could save up to $21,000 and quickly recover 35% of your cost.

These enhanced tax breaks are available for a limited time.

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