Saturday, December 8, 2007

Must a work SUV be used only for business?

Dear FSB: Must I prove that a work vehicle is used for business 100 percent of the time? And if so, how do I prove it? My question is related to Land Rover's statement about tax depreciation allowances. They claim that the first year you can claim $32,000, then $11,200, then $6,700, then $4,032 each year respectively for a total of 90 percent of the purchase price after four years. If this is true I will be purchasing ASAP! Thanks for your time!



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[Source: Financial news of the day - CNNMoney.com]

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