In October, a lot of businesses are looking at those year end asset purchases, including a new business vehicle. Just keep in mind, you will get a bigger deduction for an SUV over a small light truck and a bigger deduction for a big heavy truck over an SUV. If the gross vehicle weight is over 6,000 pounds, you will be maximizing your deductions in the current year. You can email me at bstonercpa@sbcglobal.net or call me at 818-317-6035 and we can talk about the different vehicle catagories and how they can get you the best year end writeoff.
Brian’s Tax Musings
Well there is talk of extending California sales tax to services. It is interesting that the people hardest hit will be the poor and small businesses, the people the state supposedly wants to help the most. See this article:http://jan.ocregister.com/2011/10/07/sales-tax-on-services-could-raise-8-7-billion/66833/The last couple of times this type of proposal was brought up, it met with stiff opposition. Hopefully it will again.
Brian’s Financial Musings
Well, following some of the banks and other institutions, Cosco is raising the price of their membership. How could they do that in these horrible times. The price for a regular or Goldstar membership is going from (gasp) $50 to $55 and US and Canada execultive membership from (aagh) $100 to $110. What do you mean big deal? Well, it is true it is not much, but next Walmart is going to raise their fees (oh wait they don’t have fees).Well at least I will get another 5 cents in rebates on my Costco American Express Card.