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Discussion Starter #1
6000lb!?

Any tax loophole for Pilot owner?

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Congress May Expand SUV Tax Break

A tax loophole big enough to drive some SUVs though may get even bigger, the Detroit News reports.

The tax break, which allows some small business owners to make a new equipment write-off of as much as $25,000 on the purchase of a large SUV, is set to go up to as much as $100,000 under a major tax package going through Congress.

The business equipment deduction was included in a $350 billion tax-cut plan the Senate has already passed. It must now be reconciled with a $550 billion House bill passed last week which has President Bush's blessing, virtually assuring that the tax break would become law.

If that happens, a small business owner will be able to write off the entire cost of almost every vehicle on the market that the IRS defines as a truck (gross vehicle weight of 6,000 pounds or more). Under the congressional plan, the entire cost of a Hummer H1 — the most expensive, least fuel-efficient SUV on the marker — would be tax-deductible, the News noted.
 

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Yes it is, its GVWR for the 4wd is 6400 lbs!!:eek: My wife and I will take advantage of the tax laws with the Pilot next year!!!:2: :2:


Matt:D
 

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You may qualify for the exemption. I don't know what the Gross Vehicle Weight is for the Pilot. But, you need to understand that GVW is different than the vehicle's curb weight. GVW is the maximum allowable weight of the vehicle, including occupants, cargo, fluids and fuel. So, it will take a little math to figure it out.:1:
 

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Twinkie said:
You may qualify for the exemption. I don't know what the Gross Vehicle Weight is for the Pilot. But, you need to understand that GVW is different than the vehicle's curb weight. GVW is the maximum allowable weight of the vehicle, including occupants, cargo, fluids and fuel. So, it will take a little math to figure it out.:1:
I checked on carpoint and they list :
curbweight :
EX - 4439 lb
LX - 4416

GVWR : (EX and LX) : 5950

Check out at : http://autos.msn.com/vip/specifications.aspx?modelid=10381&src=vip
 

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Yep, my door jamb sticker says the same, GVWR 5950. Missed the big tax break by 50 lbs!

Someone told me they go by that sticker and even with modifications the IRS still goes my that sticker.
 

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I looked to and I stand corrected!:eek: I was given some erroneous information!:3: Oh well when comes down to it you only get back a small portion even if you write the whole thing off! I will have to buy something else now bummer.:2:

Matt
 

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You can still write off the depreciation at the normal schedule. So what you lose is the time value of the tax break. I considered buying a heavier vehicle but I would have had to spend $40K to get something I liked just as much.
 

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Not heavy enough

Can anyone working for the IRS really confirm the GVW deal? I know my sticker says 5950 lbs but can we add on some heavy accessories (steps, grill guards, etc) to bring it up to 6000lbs? It really would suck if we can't get the deduction by 50lbs.

Ace
 

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Re: Not heavy enough

ace said:
Can anyone working for the IRS really confirm the GVW deal? I know my sticker says 5950 lbs but can we add on some heavy accessories (steps, grill guards, etc) to bring it up to 6000lbs?
Nothing you add to the vehicle affects the GVWR. This is a number assigned by the manufacturer, which indicates the maximum rated weight of the vehicle, including all accessories, cargo, passengers (human cargo), and trailer tongue weight.
 

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I don't know but is it me that the government gives a tax break for heavy and low gas mileage? I find this obscene. This tax break was for farmers or contractors who can use this to help with their business, not for dentists and lawyers to drive to and from their offices or for their wives to goto their tennis classes.
 

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Versed said:
I don't know but is it me that the government gives a tax break for heavy and low gas mileage? I find this obscene. This tax break was for farmers or contractors who can use this to help with their business, not for dentists and lawyers to drive to and from their offices or for their wives to goto their tennis classes.
That is the problem with all laws.
Every line add loopholes.
 

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kemosabe said:
Yeah, RipRocK, too bad... :(

:p :p :p
Hey, the U.S. uses that same form....


:4:
 

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Re: Not heavy enough

ace said:
I know my sticker says 5950 lbs but can we add on some heavy accessories (steps, grill guards, etc) to bring it up to 6000lbs?
The door jamb sticker on my 04 Pilot only states that the maximum weight for passengers and cargo is 1322, I didn't see a GVWR. It would be nice if the '04 Pilot had those 50 extra pounds, but I doubt it...

I will be adding side steps soon, so I will at least ask my CPA about it when I meet with him before the EOY.
 

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Re: Re: Not heavy enough

MA_Pilot said:
The door jamb sticker on my 04 Pilot only states that the maximum weight for passengers and cargo is 1322, I didn't see a GVWR. It would be nice if the '04 Pilot had those 50 extra pounds, but I doubt it...

I will be adding side steps soon, so I will at least ask my CPA about it when I meet with him before the EOY.
I guess you add that to the curb weight to find the GVWR... The honda website says curb weight for '04 is 4400 pounds (which I think is actually a little lighter then previous year). Add 1322 to that you get 5822 pounds... Is that the GVWR for 04 pilot ??
 

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Re: Re: Not heavy enough

MA_Pilot said:
The door jamb sticker on my 04 Pilot only states that the maximum weight for passengers and cargo is 1322, I didn't see a GVWR. It would be nice if the '04 Pilot had those 50 extra pounds, but I doubt it...

I will be adding side steps soon, so I will at least ask my CPA about it when I meet with him before the EOY.
Fixing the wrong probelm!!

You need to increase the CARRYING Capacity, not the weight!

You could add helper springs, larger brakes, and higher capacity axles, then talk to your CPA.
 

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Folks,

Does any one know the gross weight of the coming 05 EX-L is going to be ?
With the new equipment like sunroof etc. might bring it beyond the 6000 lbs magic
tax loop hole figure.

Thanks
-Tat
 

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Discussion Starter #20
I don't care.
I heard congress is closing the hole. I hope they do it sooner
 
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