Farmers and Ranchers buying up pickups for tax savings
Yakima, WA - Many people are looking to buy big ticket items like a new car, or a boat before the year ends to save some money come tax time.
Mike Olson Dodge says it's been pretty busy and they have come to expect it.
That's because farmers and ranchers are always looking to buy a big pickup truck in late December to help with their respective businesses.
The tax laws are written so that they can write off a large percentage, or in some cases the entire truck.
And the trucks are not cheap. Some can be as expensive as $50,000.
"Well, they're buying one ton, half-ton pickups," says Mike Olson, owner of Mike Olson Dodge, "Basically, the vehicles they use to work with on their ranches and farms and orchards. The bread and butter of the valley."
Olson says that since Christmas Day he has sold 21-pickup trucks off his lot in Yakima.
Also a tax provision that allows Washington residents to deduct sales tax from their federal income tax expires January 1st, so that's another big reason why some folks are rushing to buy big ticket items.