Thread: Interesting Chrysler News
View Single Post
Old May 14, 2008 | 04:22 AM
  #16 (permalink)  
BestTimesNow's Avatar
BestTimesNow
Joined: Aug 2007
Posts: 184
Likes: 0
From: Birmingham, AL
Default Re: Interesting Chrysler News
Back in 2003 a business owner could basically get a free Hummer paid for by the tax payers.

“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 (see table).
EFFECTS
These changes to the tax code, which were originally intended to spur capital investments by farmers and small businesses that rely on heavier vehicles, have made the purchase of heavy SUVs extremely lucrative for any small business owner, whether or not the vehicle is necessary in their work. It has raised the deduction cap to $100,000 for small businesses, while retaining all other aspects of the tax cut. This makes the purchase of at least 55 large SUVs, passenger vans, and trucks-all priced under $100,000-completely deductible in the first year.”
Here’s the full story:

http://www.taxpayer.net/TCS/whitepapers/SUVtaxbreak.htm

http://www.alternet.org/columnists/story/16232/

http://www.edmunds.com/advice/specialreports/articles/100280/article.html
 
Reply
0