There is (was) this tax loophole that allowed a business owner to write off up to $100,000 of your SUV (or truck) the first year if it weighs more than 6,000 lbs. In 2004 they changed it to a max of $25,000, still not bad. I can't find any info on what it is now. Does anyobody know what the tax break will be for 2006? I'm looking to buy one. Has anybody here taken advantage of this? I really want a Hummer H3 but it comes in at only 5,850 lbs. so doesn't qualify. The H2 is a bit big to fit in our garage with our other car. I'm also looking at the Toyota Sequoia.
What's a lupo? The Volkswagen SUV get's less MPG than a Hummer. I don't drive much, only a couple miles a day (some days not at all) so I am less harsh on the environment than someone with a gas miser commuting 20 miles each way to work. if you really want to think of the environment you should stay home and telecommute! If the government would give the same tax break as they do for a gas saver as they do for the huge SUVs I would buy one! Our government is a contradiction on many things.
Lupo is the lowest consumption car in the entire world, drinks about 3L of petrol over 100km. No idea what that is in MPG. why do you need a $100,000 car to drive a few miles a week?
Why does the US government reward the polution of the planet by using oversized cars? Weird. A lupo is a hatchback (Compact).
Heh. I'm not buying a $100,000 car. I would rather buy a $30,000-$40,000 vehicle that $25,000 is tax deductable right off the top than buy one with no tax benefit (under 6,000 lbs.).
It falls under "business equipment" on our tax forms. A vehicle under 6,000 lbs. doesn't qualify. It's a throwback to the farming days.
Matt, get a real man's SUV! http://forums.digitalpoint.com/showthread.php?t=53574 The H3 is for soccer moms!
My wife is a soccer mom Actually if you want a real mans truck get this one http://www.internationaldelivers.com/site_layout/XTFamily/cxt.asp It qualifies for a $100,000 first year business expense write off! (over 14,000 lbs)