Tax rules for a Glider truck?

But that assumes it will even get out of Ways and Means and get to the floor with a vote..... with no changes. That is a stretch to say the least. Hundreds of bills die a stale death because they never made it out of committee, or if they do make it out, they are usually changed to something that doesn't represent much of what it did in the original. If I worried about each and every bill that was proposed, I would need to take antidepressants.

Once it dies in committee, it has to be resubmitted in the next congressional session and start the process all over again, right along with all the other bills that got resubmitted. It once again gets buried in the clutter. This is why out of hundreds and hundreds of bill submitted, only a percentage ever see the light of day on the House floor.

I would agree that it would have its best chance in a lame duck congress, but I doubt it will be this one. The House is primarily Republican whereas the Senate is primarily Democrat. There is no stomach by the Republicans to dump a 7 cent a gallon federal tax increase. The odds are extreme to say the least that it will ever be more than a glint in some Congressman's eye.

 

You're probably going to need a very good P&L statement, 800 FICO, and a perfect D&B report to finance $40K for a rebuild on a 10 year old truck. You also wont get much more than 36 month terms, you wont be able to depreciate that loan... Your payment will be more per month (granted its for a shorter period of time) than a new truck, and the truck will be obsolete in California in 3 years. I noticed you're hauling military equipment, in a few years the guys who are not going to California wont be your competition anymore. Fort Irwin, Pendleton, Hueneme.... Open season.

If spending $40K wont deplete your reserve cash, put it down on a new truck get a 60 month loan because people with skin in the game right now are getting very good rates on new truck loans right now.

 

If you can write off Cali , put that lo max back in showroom condition and keep it.

You know the truck, that's a big piece of the puzzle too.

 

Just me but i would never do a 60 month term on a truck never. Keep the lowmax and rebuilrd it. If cali is an issue a glider would not solve it anyway as you would still need a epa approved motor to run there. Keep what you have as you know it and rebuild it as it needs it. I just sold my 06 pete with the accert cat and bought a glider with an 95 ek series cat to get away from the issues of the newer stuff.

 

Who pays $40K for an overhaul? Even with a CAT that ought to come with new tranny and rears at $40K!! Could do a new radiator, CAC, an 4 years unlimited miles warranty with CAT do the overhaul for under $25K... Understand where he's coming from not wanting to sink that kind of money into an older truck the flip side being I still thinks it's crazy to finance new. I'd be tempted if I had the cash outright to get new if I was in need of a truck but even so, it's still crazy to throw away that big of a chunk for new as much as we all would like to have new... ...or some of us younger o/o anyways...

 

I must say thats a mighty fine looking WS. I never liked the look of em but yours doesn't look bad at all. You got to think to that if you put $40,000 into it and replace everything then you would be able to run and not have anything go wrong with a costly repair nor should it nickel and dime you. $40,000 I would think would make your truck darn near perfect and then you could run without problems and make some serious money with a nice truck.

 

it dont have to be complicated just do what i did. get an anual note from your bank from $10000 to what ever your comfortable with and do a little at a time. if you cant pay it back in a year just renew it for another year. the interest is a rite off along with the parts you buy. i have taken $10000 notes out before and always paid them back in half the time.

 

another thing about a note. it's an unsecured note(no colateral) use the banks money and keep yours in a interest earning acct.