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|VW Eurovan Camper, and IRS writeoff||Reid Buell||2-12-03|
|My wife and I are thinking about buying a new VW Eurovan Winnebago camper van, but would get a big tax write off by buying a vehicle that weighs over 6000 pounds "gross vehicle weight." This is due to the new tax law, I think it is IRS Section 179 that gives a big write off (of about $25,000 for the first year) for businesses expense buying a new SUV or other heavy type vehicle for business that weigh over 6000 pounds. |
Our business is very outdoor orientated, outdoor photography and such, so if the gross vehicle weight is over 6000 pounds for the VW Eurovan camper, it would be great.
Unfortunately, the VW MV from my research weighs about 4600 pounds and the Winnebago additions weigh and about an additional 900 pounds, bringing the total to about 5500 pounds, but it is still short of the 6000 pounds. I wonder if we loaded it up with our equipment and then weighed it if it would pass with the IRS as "gross vehicle weight?"
So if anybody has any insight on this it would sure be a big help to us. Thanks.
|Re: VW Eurovan Camper, and IRS writeoff||Curt||6-12-03|
|What did you end up finding out? Was the GVW on the vehicle as the cpa advised, over 6000 pounds?|
|Re: VW Eurovan Camper, and IRS writeoff||matt||3-10-03|
|I doubt it. sound like gross vehicle weight would mean unloaded. whereas net vehicle weight might mean loaded.|
i'm really not sure though.
|Re: VW Eurovan Camper, and IRS writeoff||erik||5-2-03|
|I looked into the same thing. The GVW of the euro camper is listed at 5997#. Three pounds short of a HUGE tax break. I'm broken hearted.|
|Re: VW Eurovan Camper, and IRS writeoff||Campion||3-15-03|
|Saw your note.|
Have sorryful news for you. The IRS has their own datasheets on vehicle gross weight that they use for this evaluation.
My uncle learned of this the hard way during an audit.
|Re: VW Eurovan Camper, and IRS writeoff||Steven R. Jones, CPA||5-6-03|
|As a CPA I can give you the goods:|
The gross vehicle weight (GVW)is the fully loaded maximum weight the vehicle can handle and should be marked on the vehicle.
The GVW must exceed 6,000 pounds in order to get larger depreciation deductions.
It is important to check with your specific vehicle because GVW ratings can vary depending on how the vehicle is built. For example, a Chevy Astro 2-wheel drive is rated at 5,950 lbs. (just under the limit) and the same vehicle with All-wheel drive is rated at 6,100 and hence would qualify.
Getting over the hurdle is a very good thing because it allows the taxpayer to ignore the luxury auto limits placed on vehicles under 6,000 lbs. GVW.
If you guys need a good accountant or know anyone who does, send me an e-mail.
I serve clients all over the US.