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SUV Tax Breaks

Discussion in 'General Business' started by MattL, Mar 17, 2006.

  1. #1
    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.
    SEMrush
     
    MattL, Mar 17, 2006 IP
    SEMrush
  2. dsm56

    dsm56 Active Member

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    #2
    Maybe you should get a volkswagen lupo and think of the environment...
     
    dsm56, Mar 17, 2006 IP
  3. MattL

    MattL Well-Known Member

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    #3
    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.
     
    MattL, Mar 17, 2006 IP
  4. dsm56

    dsm56 Active Member

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    #4
    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?
     
    dsm56, Mar 17, 2006 IP
  5. ol.

    ol. Peon

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    #5
    Why does the US government reward the polution of the planet by using oversized cars?

    Weird.

    A lupo is a hatchback (Compact).
     
    ol., Mar 17, 2006 IP
  6. MattL

    MattL Well-Known Member

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    #6
    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.).
     
    MattL, Mar 17, 2006 IP
  7. blinxdk

    blinxdk Peon

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    #7
    About 20 miles per liter or 124 MPG.

    I get about 65MPG on my bike.
     
    blinxdk, Mar 17, 2006 IP
  8. MattL

    MattL Well-Known Member

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    #8
    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.
     
    MattL, Mar 17, 2006 IP
  9. Crazy_Rob

    Crazy_Rob I seen't it!

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    #9
    Crazy_Rob, Mar 17, 2006 IP
  10. ol.

    ol. Peon

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    #10
    Hehe wow, that's pretty backward eh.
     
    ol., Mar 17, 2006 IP
  11. MattL

    MattL Well-Known Member

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    #11
    MattL, Mar 17, 2006 IP
  12. Crazy_Rob

    Crazy_Rob I seen't it!

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    #12
    There's an auto body shop around here with one of those CXT's.

    [​IMG]
     
    Crazy_Rob, Mar 17, 2006 IP
  13. Will.Spencer

    Will.Spencer NetBuilder

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    #13
    Be like Sam Walton, never buy a new truck. :)
     
    Will.Spencer, Mar 17, 2006 IP