"taxasaurus" <taxasaurus-blue[at]yahoo.com> wrote:

- quote -

I don't know the answer but I would guess it is an SUV and
subject to the limits. If we assume the converted area is
covered by a cap (and it is covered by the roof) then it
doesn't qualify because the bed is accessible from the cab.
Now if we assume it isn't covered by a cap then we have to
decide whether the bed is an "open area." But it isn't
really open since it is, again, partly covered by the roof.

Believe it or not I think I would ask Cadillac how they
measure the bed. If Cadillac measures it at 6 feet then I
would explain the issue and risks to the client, then ask
what he/she wants to do. If they placed it in service in
2004 then at least they would get the 168(k) bonus on the
part in excess of $25,000.

--
Drew Edmundson

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- quote -

To qualify for the 100,000 179 limit, the 6 feet or more
cargo area must not be readily accessible directly from the
passenger compartment.

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- quote -

The revision has to do with vehicles purchased after
10/22/04.

If it was not, then the new rules apply and it probably will
be limited to the new rules.

Bruce Raskin, CPA
Phoenix, AZ

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Is someone out there knowledgeable about the October, 2004
revision to Section 179 of the IRS tax code as it relates to
specfic exclusions of 6,000 - 14,000 lb. vehicles that have
seats behind the driver and beds less than 6 feet?

Specifically, I am trying to find out whether a 2005
Cadillac Escalade EXT AW qualifies for accelerated
depreciation. Under the revision, it would seem to be
disqualified because it is a non-van, non-bus with seats
behind the driver and has a bed that is less than 6 feet.
On the other hand, it seems that it would qualify in that
the bed is convertible to greater than six-feet.

Does anyone have any insight in to this matter, or basically
specfically know whether this particular vehicle would
qualify? Thanks for any help.

T

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