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Gasoline Tax Refund
Did you know that you might be able
to get a tax refund for the gas that you use in the state of California?
When you buy gas or diesel fuel, the fuel your truck mount uses
are not subject to the road use tax. Check with the person that
does your taxes to find out if you qualify. For more information
follow the links below.
Gasoline
Tax Refund Claim Form SCGR-1
More
information at the California State Controller's Office
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IRS Section 179
Increased section 179 limits. The maximum section
179 deduction you can elect for qualified section 179 property
placed in service in 2007 has increased to $125,000 ($160,000
for qualified enterprise zone and qualified renewal community
property). This limit is reduced by the amount by which the cost
of qualified property placed in service during the tax year exceeds
$500,000.
You must qualify and purchase your new equipment
by 31 December 2007. They change the rules every year, so you
don't know what deductions will be available newxt year.
Find
out more at the IRS
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