the truck that makes the world hate us has reason to be hated but us, too.
this is old news, and no one i know is in the market for this kind of tax break, but click here to see why buying a hummer makes sound financial sense.
With passage of the Jobs and Growth Act, Congress dramatically expanded the already generous SUV loophole by raising the deduction ceiling for certain purchases-including SUVs-from $25,000 to $100,000.7 Under this new rule, the entire cost of all but one large SUV-the Hummer H1-can be deducted. This act also increased the "bonus deduction" from 30% to 50%8, which businesses can utilize in the first year of purchase on the amount above the initial deduction. This bonus deduction was established in addition to the five-year depreciation schedule9, which remained the same.
Under the new plan, a business owner who purchases a $110,000 Hummer H1 in 2003 can now deduct a total of $106,000 in the first year.
that's 106,000 reasons to be pissed off at this administration. c'mon, i know you needed a few more.
With passage of the Jobs and Growth Act, Congress dramatically expanded the already generous SUV loophole by raising the deduction ceiling for certain purchases-including SUVs-from $25,000 to $100,000.7 Under this new rule, the entire cost of all but one large SUV-the Hummer H1-can be deducted. This act also increased the "bonus deduction" from 30% to 50%8, which businesses can utilize in the first year of purchase on the amount above the initial deduction. This bonus deduction was established in addition to the five-year depreciation schedule9, which remained the same.
Under the new plan, a business owner who purchases a $110,000 Hummer H1 in 2003 can now deduct a total of $106,000 in the first year.
that's 106,000 reasons to be pissed off at this administration. c'mon, i know you needed a few more.
posted by quickstuff at 1.10.04
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