Doug Kanter wrote:



Consider the opposite: We now have a tax incentive available which included
Hummers. I have no idea when it was enacted, but at the very least, Bush
could interrupt his 18,000th game of Grand Theft Auto and spend a week
eliminating a law which is an embarrassment, considering the current
environment.



Do I understand this statement correctly ... that there is a tax
incentive to purchase a Hummer?

Last time I looked the opposite was true. There is a "Gas Guzzler" tax
paid on all new vehicles that do not meet certain fuel mileage guidelines.

Eisboch

Do I understand this statement correctly ... that there is a tax
incentive to purchase a Hummer?

There is, or very recently was, a tax write off for vehicles above a certain
GVW purchased by businesses. I think it was 7000 pounds. The auto industry says
that the most significant impact of the law was a huge increase in the number
of people buying the largest SUV's for use as executive vehicles.

"Gould 0738" wrote in message
...
Do I understand this statement correctly ... that there is a tax
incentive to purchase a Hummer?

There is, or very recently was, a tax write off for vehicles above a
certain
GVW purchased by businesses. I think it was 7000 pounds. The auto industry
says
that the most significant impact of the law was a huge increase in the
number
of people buying the largest SUV's for use as executive vehicles.

An owner of an S-Corp who bought a $100,000 Hummer in 2003 and 2004 could
deduct every penny of it...effectively saving himself in the neighborhood of
$30,000 in taxes. He/she could essentially buy a large SUV for 70 cents on
the dollar.

On Mon, 11 Oct 2004 13:10:56 -0400, Eisboch wrote:


Do I understand this statement correctly ... that there is a tax incentive
to purchase a Hummer?

Last time I looked the opposite was true. There is a "Gas Guzzler" tax
paid on all new vehicles that do not meet certain fuel mileage
guidelines.

Besides the tax deduction for businesses, it's my understanding that
Hummers are exempt from cafe standards.

http://www.commondreams.org/news2004/0428-03.htm

http://seattlepi.nwsource.com/local/...hummer17.shtml

Eisboch wrote:

Do I understand this statement correctly ... that there is a tax
incentive to purchase a Hummer?


Yup. A business owner may purchase any vehicle with a GVW over 6,000
pounds for business purposes (wink, wink,) and take a deduction of up to
$106,000 in the first year after buying a $110,000 Hummer H1. Right now
the "opportunity" expires in 2006, but who knows...

Go to http://www.selfemployedweb.com/suv-tax-deduction.htm for all the
gory details.

Who ever said life was fair....

"John Wentworth" wrote in message
...
Eisboch wrote:

Do I understand this statement correctly ... that there is a tax
incentive to purchase a Hummer?


Yup. A business owner may purchase any vehicle with a GVW over 6,000
pounds for business purposes (wink, wink,) and take a deduction of up to
$106,000 in the first year after buying a $110,000 Hummer H1. Right now
the "opportunity" expires in 2006, but who knows...

Go to http://www.selfemployedweb.com/suv-tax-deduction.htm for all the
gory details.

Who ever said life was fair....

Hey...if a hard working bricklayer needs the biggest pickup truck on earth
and actually uses it to haul tons of stone, that's one thing. But, some
asshole who buys a hummer just to tool around in, that's bull****,
especially since he probably whines as much as everyone else about oil this,
oil that, OPEC's a bunch of crooks...blah blah blah.

"John Wentworth" wrote in message
...
Eisboch wrote:

Do I understand this statement correctly ... that there is a tax
incentive to purchase a Hummer?


Yup. A business owner may purchase any vehicle with a GVW over 6,000
pounds for business purposes (wink, wink,) and take a deduction of up to
$106,000 in the first year after buying a $110,000 Hummer H1. Right now
the "opportunity" expires in 2006, but who knows...

Congress removed the loophole just last Friday.