Van

[Dan M. Hallett, Jr.]

Dear Susan:

That's the way my accountant does it - Allowable deduction per mile.

Dan Hallett, Jr.RPT
dhalle@toolcity.net

Susan Kline wrote:
> 
> Dear David and Warren,
> 
> Thanks for your experiences. It just reassured me that I've done the right
> thing. I traded the extremely faithful but aging ('87, 163k) Toyota Tercel
> 5-door hatchback in on a newer ('93, 55k) Corolla wagon! (It is beautiful!)
> 
> I had been going to put a new engine in the Tercel, and drive it till it
> dropped. I'm glad now I didn't. By the way, when I came back yesterday to
> sign over the title, I watched while the salesman tried to drive Old
> Faithful to a different part of the lot. It always started at a touch
> (unless hot), had a quite new battery, and never had any electrical
> problems EVER. After a night at the dealer's, emptied and abandoned, the
> Tercel started, stalled in reverse (first time EVER), and then had a dead
> battery. There's a message there somewhere, though I don't know what it is.
> 
> No more carburation difficulties, burning oil, or dieseling (at least, I
> HOPE NOT!) ... more vim on hills ... more room for stuff ... I'm planning a
> framework to allow the large board I use to transport actions to become a
> permanent (but removable) fitting, covering everything with dark grey
> indoor-outdoor carpeting to match the interior. Tempting tools can lurk
> underneath. I'll phase out the (fragile, already warped) window-blind type
> cargo cover, and build another of fiberboard covered with more carpet, to
> hide the rear area. I'm planning cunning storage nooks, too, so things
> won't sort of drift around.
> 
> I did depreciate the last two cars I've owned, but I have a different plan
> for this one. I hope to look after it meticulously, and drive it a long,
> long, long time. I think I'll get a far bigger tax advantage by not
> depreciating it, and taking the standard allowance per mile. After 5 years
> it would have been fully depreciated, and of no further tax use, while the
> mileage allowance will just go up every year, indefinitely (and I put a lot
> of miles on it.) This way, I won't have to document every little upkeep
> expense, too.
> 
> Anyone else doing it this way? Any tax hints?
> 
> Susan
> 
> ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
> At 11:10 PM 5/30/98 -0700, you wrote:
> >Dear David,
> >
> >I had a similar problem with my van, it was burning a lot of oil, and
> >the plugs were fouling up and it was running rough.  So, I too decided
> >to rebuild the engine and run it 4-5 more years. <SAD STORY>
> >Then, all of a sudden, the house was paid off along with all our other
> >loans and my wife said "You need to buy a new truck or IRS is going to
> >eat us alive next year!"  So we went shopping like a pair of kids and
> >brought home a Dodge pickup with the Cummings diesel and all of the
> >goodies.
> >
> >When I was driving the van over to the used dealer for him to sell, it
> >stopped dead in the middle of the street. <MORE SAD STORY>  I went to
> >Mitsubishi and they quoted $1100 just for the part.
> 
> >I'm going to think very carefully before I rebuild anymore engines and
> >for sure I'll never do anything so foolish with a Japanese vehicle.
> <ME TOO!>
> 
> >My advice, is that unless it's totally impossible, when your vehicle
> >becomes un-reliable, buy a new one with a 5 year, 150,000 mile extended
> >warranty or at minimum 100,000 miles, depreciate it over the same period
> >and do everything you can to pay it off before the warranty expires and
> >then do it all over again!!!
> >
> >That way you'll rarely have an un-reliable vehicle!
> >
> >Of course, if you are just starting in the business, lots of luck.
> >Maybe your rich uncle will conveniently die and drop something on you.
> >:-)
> >
> >sincerely,
> >
> >Warren
> >
> -------------------------------------------------------------
> >Vanderhoofven wrote:
> >>
> >> Last year on the way home from the National PTG Convention in Orlando, our
> >> van broke a rod in the engine whe we were only about 30 miles from our
> >> house. <snip>
> 
> >> Take care of your car!  Regular maintenance is important, including oil
> >> changes, tune-ups, constant checking of fluid levels, tire rotation, and
> >> constant replacement of worn parts including belts and hoses.
> >>
> >> May you have many years of driving with no problems!
> >> David Vanderhoofven
> >
> >--
> 
> Susan Kline
> P.O. Box 1651
> Philomath, OR 97370
> skline@proaxis.com
> 
> "For some reason, as time passes, I'm expected to play the roles of
> increasingly older people."
>                                 -- Ashleigh Brilliant