- #1
- 8,142
- 1,759
http://www.pressofatlanticcity.com/business/national/story/3181469p-11893943c.htmlFederal tax rules that took effect last month allow a credit of up to $3,150 for anyone buying a hybrid car. The credit is the same regardless of tax bracket.
However, owners of small businesses who buy a Hummer, Ford Excursion or other SUV weighing more than 3 tons get a deduction of up to $25,000 if they use the vehicle exclusively for work. The amount of tax savings from the deduction depends on their tax bracket.
The benefits don't stop there. Once they subtract the $25,000 from the cost of their 3-ton SUV, small business owners can deduct the depreciation on the remaining amount. Someone who bought a $60,000 SUV, for example, can claim the remaining $35,000 over six years.
No such luck for small business owners who buy cars weighing less than 3 tons. [continued]
So, tax breaks that help to increase the demand for oil... Whose side are these guys on?
Last edited by a moderator: