Customers looking for a new New Ford F-150 in Greenville will be able to shop on their scedule and find the best deal in Tarboro, NC.  Team Ford invites all its existing customers to visit the new wesbite and enjoy Doug Henry’s award-winning service.

Doug Henry Automotive group has been a fixture in Eastern North Carolina since 1992.  We offer the areas largest selection of new Chevrolet, Buick, GMC Trucks and now Ford Vehicles.  Come experience our passion for being the areas most aggressive dealer group.  With a “make the deal” attitude and service after the sale, we think we’ve put together the winning combination!  Remember at Doug Henry Chevrolet “We’re Always Cheaper.“

 According to Gary Arvan a GM Diesel powertrain engineering chief the two biggest changes will be the new selective catalytic reduction and its enhanced exhaust gas recirculation systems. It will also use B20 biodiesel, which is 80 percent ultra-low-sulfer diesel and twenty percent biodiesel. The new engine will also make better use of exhaust gas recirculation across the Duramax’s power band than did the previous engine. Arvan also stated that the new engines would not let the new regulations keep them from producing enough power. The heavy duty trucks will definitely still have the 360 hp and 660 pounds-feet of torque that todays engine has. However many people believe that there will be a nice increase in power when the numbers are revealed. Probably everyone’s question is whether or not the gas mileage will get better or worse, as of right now it looks it will remain the same.

 Doug Henry Chevrolet of Tarboro will be happy to help Eastern North Carolina out with a truck with one of these new engines under the hood. They probably will not start production of them until the summer of 2010. Remember we are always cheaper in Tarboro, so when you can’t find that just perfect deal you’re looking for in those big cities like Greenville and Rocky Mount come visit us at Doug Henry Chevrolet of Tarboro.

The pirates are going for their second consecutive Conference USA Championship after defeating Tulsa in 2008 for the crown. The pirates had to go on the road last year to win the crown; however, this year all of pirate nation can witness the game in person if the pirates can slip past Southern Miss.  The Championship will be held December 5, 2009 and hopefully at Dowdy Ficklen Stadium.

The Pirates have a had a stellar season only losing four games, being West Virginia, UNC, Virginia Tech and Southern Methodist. Two of those four teams have been ranked in the top 25 and Virginia Tech was ranked as high as number 4 at one time. The feeling around Eastern North Carolina and particularly Greenville is that everyone is about to bust at the seams to host the big game Dec. 5, possibly being one of the biggest in School history.

Doug Henry Chevrolet in Tarboro is proud to be big supporters of the Pirates with many employees being season ticket holders. We wish the pirates the best of luck and hope to be in the stands on Dec. 5^th watching them go for another Conference Championship. Doug Henry has one of the largest in stock selections of all new Chevrolets and great selections of Pre-Owned inventory. So come see us in Tarboro about a new vehicle and we can also talk about the pirates, and remember we are ALWAYS  cheaper at Doug Henry Chevrolet!

When people think of Black Friday, the day after Thanksgiving, they think of crazy lines at Wal-Mart and Target at 4 in the Morning to get in the store to buy a Flat Screen TV for 500 dollars cheaper then any other day. The newest item to be added to the Black Friday madness list should be Cars, Trucks and SUVS since according to car pricing researchers at TrueCar.com, Friday the 27^th of November of this year should be the best car sales day of the year.

 The nice thing with cars compared to flat screen TV’s is that cars are negotiable unlike TV’s and toys. Researchers say that savings on average this year will be around 7.5% less then sticker prices, on any other day of the year that number is around 4.7%. We are used to seeing crazy advertising techniques for company to get that extra sell, but expect the most on this day. One dealer in New York City said it will have employees dressed up as Gorillas on bicycles with sandwich-board signs advertising their car deals for that day.

Another key reason for better sales on Black Friday at car dealerships is because it’s at the end of the month and many dealerships have to meet their quotas or cannot get incentives from manufacturers. Also, with 2010 quickly approaching many car dealerships want to get their 2009s out and are willing to make great deals on them.

Doug Henry Chevrolet in Tarboro is offering incredible incentives to buy on this day as well, offering 0% interest for 72 months, $6500 in rebates for potential buyers and a huge selection of in stock 2009 and 2010 model Chevys. Doug Henry Chevrolet is also proud to be managing Team Ford Sales in Tarboro where you can find F-150’s, Escapes, Fusions and the all new slim line Taurus. According to researchers the F-150 has the potential to be bought for 26% less than the sticker price at some dealerships. Doug Henry Chevrolet not only welcomes Tarboro but anyone close enough to come see us on Friday. We are expecting heavy traffic from Greenville as well as Rocky Mount. So have a safe and blessed Thanksgiving and then come down and see us on Friday to check out some of the hottest deals in Eastern North Carolina. Remember were ALWAYS cheaper at Doug Henry Chevrolet in Tarboro, NC.

Local business leaders had a chance to network with one another.  The event was catered by 33 Grill and Oyster Bar, and is designed to create an enviroment where business people share ideas and thoughts about local small business.  This is a monthly event held at various locations in Tarboro.  To learn more about the Tarboro Chamber click here, or visit the US Chamber of Commerce.

Event attendees included Maxie Coker with RBC Centura, Joe Pitt from Marrow-Pitt Ace Home Center, Kenny Honeycutt of Piggly Wiggly Grocery Stores, Sam Noble Tarboro Town Manager, Sheriff James Night of Edgecombe County, Whit Baker of Heritage Hospital, Al Hull from Tarboro Properties, Seth Cooley from RBC Centura, Wayne and Jamie Evan of Evans Farms, Shelly Edmondson of Hertiage Bank, Mr Patel from Comfort Inn, John Montoya with Allstate Insurance, and William Harris of Doug Henry Tarboro, Arthur Abrams of Team Ford Sales, Inc

If a small company/business purchases one truck for $40,000, they can fully depreciate that truck in 2009 for a tax benefit of $16,000 (assuming a 40% tax bracket and other rules associated with Section 179)

If a larger company buys 10 trucks at $40,000 each for a total of $400,000, they can depreciate $250,000 under Section 179 and then another 50% of the remaining value of $150,000 for an additional $75,000.  Plus the standard depreciation of 20% for an additional $15,000.  This all total allows for a total of $340,000 in Depreciation in 2009.  The remaining $60,000 would be depreciated  under the standard rules in the following years.  Always consult your tax accountant for details and limitations for these deductions.

If we target the Acadia, we should go after small independent businesses like Real Estate Salespeople that would use this vehicle.

One comment I received back:  In most cases, larger businesses may not have the profits to take advantage of these large benefits and they also realize that they will not have any tax benefits in years to come when they may have better profits.

Here are the Program Details:

Depreciation Bonus At A Glance

• Sec. 1201 of the 2009 American Recovery and Reinvestment Act (ARRA) allows additional first-year depreciation of 50 percent of purchase cost by extending for one year the depreciation bonus created by the 2008 Economic Stimulus Act
• Depreciation bonus helps businesses that buy equipment this year cut their 2009 tax bill
• Applies, among other things, to purchases of tangible personal property (including construction, mining, forestry, and agricultural equipment) with a MACRS recovery period of 20 years or less
• Equipment must be purchased and placed in service in 2009
• Equipment must be new
• Allowed for both regular and alternative minimum tax purposes
• Discretionary – Taxpayer need not claim the depreciation bonus
• Depreciation bonus will expire at end of 2009

Sec. 179 Expensing At A Glance

• Sec. 1202 of the ARRA extended for one year the increased Sec. 179 expensing limit of $250,000 and phase-out cap to $800,000
• Companies can expense up to $250,000 in purchases as long as they don’t spend more than $800,000
• Expensing is phased-out for each dollar that purchases exceed $800,000
• Companies with total purchases of $1,050,000 cannot use Sec. 179
• New and used equipment is eligible for expensing
• Applies to tax years that start in 2009
• Can be combined with depreciation bonus
• Sec. 179 expensing levels will drop at end of 2009 (without ARRA, the 2009 expensing amount would be around $130,000 and the phase-out level would be around $500,000)

Good resource: www.depreciationbonus.org

On Feb. 17, 2009 President Obama signed the American Recovery and Reinvestment Act (ARRA) into law. It includes significant incentives to encourage equipment purchasing this year.

First, the ARRA extends for one year (i.e., through the end of 2009) the 50 percent bonus depreciation first created in February 2008. Companies that buy equipment in 2009 will be able to depreciate an additional 50 percent of the cost of assets placed in service this year. Only new equipment is eligible.

For both the regular tax and the alternative minimum tax, the first-year depreciation deduction otherwise allowed on certain qualified tangible personal property acquired and placed in service during 2009 is increased by 50 percent of the cost of such property.

The ARRA also extended for one year the significantly increased Section 179 small business expensing levels. Without the economic stimulus law, the Section 179 small business expensing limit for this year would have been around $130,000 with a phase-out threshold of roughly $500,000. However, under the ARRA, for 2009 the expensing limit to $250,000 and the phase-out threshold to $800,000. Thus, in 2009, a small business can expense up to $250,000 as long as its qualified equipment purchases do not exceed $800,000. For each dollar that total equipment purchases exceed $800,000, the amount that can be expensed decreases by one dollar, so that a company that makes $1,050,000 in total purchases will not be able to expense anything (but could still claim the depreciation bonus).

For purposes of the Section 179, qualifying property is generally depreciable tangible personal property that is purchased for use in the active conduct of a trade or business. Unlike the depreciation bonus, both new and used equipment is eligible for Sec. 179 expensing.

The deductions provided by the asset expense election and bonus depreciation are illustrated by the following example:

Corporation X purchases and places in service machinery (5-year property) in its calendar 2009 tax year having a cost of $650,000, which will be subject to the half-year convention. Corporation X will elect to expense $250,000 under Sec. 179, leaving the machinery with a remaining depreciable basis of $400,000. Applying the bonus depreciation provided by the Act, Corporation X is entitled to a further deduction in 2009 of $200,000 (50% of $400,000), leaving the machinery with a remaining depreciable basis of $200,000. Standard first-year depreciation for 5-year property under the half-year convention is 20%, providing Corporation X with further depreciation on the machinery of $40,000. Accordingly, Corporation X is entitled to a total expense and depreciation deduction of $490,000 in 2009 on its $650,000 machinery. The remaining $160,000 cost of the property is recovered after 2009 under otherwise applicable rules for computing depreciation.

By increasing a company’s tax deductions in 2009, the asset expense election and bonus depreciation help trim tax bills in the short term. However, because there will be less to depreciate in the future, the company’s tax bill in later years may be higher.

AED is also the process of preparing additional materials to help our members educate their customers. Keep checking our DepreciationBonus.org Web site for more information.

The Tahoe also offers some spectacular entertainment features as well. Most Tahoes come stock with a 6-Disc CD/MP3 changer, as well as a 3 month trial of XM radio. Most Tahoes also come with a DVD Entertainment System to make traveling that much easier. In addition most Tahoes come stock with the Bose Centerpoint Sound System. A nice new feature on the Tahoe is front row Cooled seats for those hot summer days. Continuing on with the staying cool topic, Tahoes also offer the Tri-Zone Automatic Climate Controls, allowing each rider to control his or her own temperature. Like many other Chevrolet vehicles the Tahoe comes with the remote start feature, so that you don’t have to sit in a freezing car on those cold mornings anymore.

The numbers don’t lie as well when it comes to the Chevrolet Tahoes. The latest Southeast Region October Sales Report showed that the Tahoe had its best month of the year thus far selling 290 more then any other month. The Tahoe also made an incredible jump from October of 2008 to October of 2009 selling 161% more. Right now at Doug Henry Chevrolet in Tarboro we have plenty of colors and options of the Tahoe to choose from. So come see us and remember Were ALWAYS Cheaper!!

New management will take over Ford dealership operations on Monday November 2nd, 2009.  Existing operations for NC Chevy Dealer will reamain at 809 W Wilson St and new Ford Dealer location will operate at 1901 N Main St address permanently.   Doug Henry Ford management plans to retain all Ford employees, increase inventory, and augment service department to meet customer demand.  The Ford brand in Tarboro will be important to Doug Henry’s product mix because of new models arriving like 2010 F150, 2011 Ranger, and 2010 Taurus.  Acquiring the Ford Franshise in Tarboro marks Doug Henry’s forth dealers and first Non-GM Dealership.  Doug Henry also owns dealerships in Farmville and Goldsboro, NC.  Tarboro is just a short drive from Greenville and Rocky Mount, and we plan to attract customers from these areas because We’re Always Cheaper!

On October 24-27 Greenville, NC hosted the NC League of Municipalities Conference at the Greenville Convention Center on Greenville Blvd. Greenville was more than happy to host the event, the league covers 542 cities, towns and villages. The conference was a success with over 1,000 visitors coming into town and all leaving happy with the job Greenville did. This was the first time the conference had been located East of I-95. Convention and visitors bureau director Debbie Vargas estimated that the visitors spent around $625,000 while in Greenville, while only costing Greenville $50,000 to host the event. An additional $84,000 was covered by sponsors from local businesses and nearby towns such as Winterville, Ayden and Farmville. Greenville also hosted pre-conference events from local youth leaders and also had a golf tournament at Bradford Creek Course.

During the conference, new President and Vice President officials were elected. Mr. Rodney W. Locks from Brevard, NC was elected as the new President. Locks was previously The First Vice President. Two First Vice Presidents were elected and they were Christopher Jones from Clemmons, NC and Mayor Loretta Clawson from Boone, NC. Locks replaced immediate past President Mayor Gerald A. Jones Jr. from Morehead City, NC.

The key note speaker for the conference was Dr. James H. Johnson Jr., the William Rand Kenan Professor of Management at UNC-Chapel Hill. The closing speaker for the conference was Dr. Douglas Brinkley, known for his work as a historian and author of 30 books, including “Hurricane Katrina” and “New Orleans and The Mississippi Gulf Coast”. The conference had educational opportunities dealing with small town financing, closing overt drug markets, transportation and many more. Greenville hopes to host the event again, the conference changes location each year around seven cities and Greenville hopes to become one of those seven.