Isn't there a tax break for small bussiness buying SUV's?

[datdamkid]

I'm trying to find the list of what kind of SUV's the small bussiness's can buy. My parents own a bussiness and want to buy one w/the tax break....
If anyone knows where i can find it I'd be greatly appreciate it.

Thanks
Palak Shah

 

[SoylentGreen]

So you wish to join the bullshit scam.

 

[DorkBoy]

Yes there is

 

[Leetman]

They have to weigh a certain amount I believe and you have to claim that a certain % of the time it will be used for business purposes.

 

[Doggiedog]

I believe they have to weigh 6000lbs or more so your choice in SUVs is limited.

 

[kranky]

Verify with your accountant that the rules haven't changed.

 

[RossMAN]

datdamkid meet Google

 

[PingSpike]

Its about time SUV drivers got a tax break. After all the giving they do to the community and the country, its the very least we can do.

 

[Encryptic]

Yes, it's a incredibly lame loophole that has yet to be closed.

 

[Homerboy]

con someone explain WHY there is this tax break? It just has never made sense to me

 

[PingSpike]

Originally posted by: Homerboy
con someone explain WHY there is this tax break? It just has never made sense to me

...because the US government is run by retards. Thats what I assumed anyway.

 

[Encryptic]

Originally posted by: PingSpike

Originally posted by: Homerboy
con someone explain WHY there is this tax break? It just has never made sense to me

...because the US government is run by retards. Thats what I assumed anyway.

That's a pretty fair assumption. :thumbsup:

 

[Doggiedog]

Originally posted by: Homerboy
con someone explain WHY there is this tax break? It just has never made sense to me

I think it was originally meant to help business owners for trucks but since SUVs are classified as trucks, people have abused this loophole.

 

[BatmanNate]

Originally posted by: Encryptic

Originally posted by: PingSpike

Originally posted by: Homerboy
con someone explain WHY there is this tax break? It just has never made sense to me

...because the US government is run by retards. Thats what I assumed anyway.

That's a pretty fair assumption. :thumbsup:

You'll be changing your tune when "Short Bus One" pulls up in front of your house and goombas start piling out. 😎

 

[vi edit]

Originally posted by: Homerboy
con someone explain WHY there is this tax break? It just has never made sense to me

It was intended to be used for commercial companies - contractors/repairmen/installers/ect to help them out for heavy duty trucks and vans since their business requires them to have heavy, expensive vehicles to get around.

Just so happened that a pompous ass frilly SUV's fit the bill too so realtors, businessmen, and other execs hopped on the bandwagon and rode it for what it was worth.

 

[Encryptic]

Originally posted by: BatmanNate

Originally posted by: Encryptic

Originally posted by: PingSpike

Originally posted by: Homerboy
con someone explain WHY there is this tax break? It just has never made sense to me

...because the US government is run by retards. Thats what I assumed anyway.

That's a pretty fair assumption. :thumbsup:

You'll be changing your tune when "Short Bus One" pulls up in front of your house and goombas start piling out. 😎

LMFAO at "Short Bus One".

:laugh:

 

[zephyrprime]

con someone explain WHY there is this tax break? It just has never made sense to me

Anything that is bought by businesses is a business expense and can be subtracted from the income of a company. But people buy cars for personal use (like the OP) and claim it as a business expense. This is illegal but how is the govt ever supposed to know? Tax fraud by small businesses is one of the biggest sorts of tax fraud.

 

[waggy]

Originally posted by: zephyrprime

con someone explain WHY there is this tax break? It just has never made sense to me

Anything that is bought by businesses is a business expense and can be subtracted from the income of a company. But people buy cars for personal use (like the OP) and claim it as a business expense. This is illegal but how is the govt ever supposed to know? Tax fraud by small businesses is one of the biggest sorts of tax fraud.

bzzt! wrong anwere!


go back and read what doggiedog said he is right.

it was for small business contractors and such to buy heavy duty trucks. Since the Hummer fit the weight limit and is considered a truck it was able to be used.

So people baught it and claimed it on the taxes.


while you are right in theory you are wrong about how it is legal.

 

[Descartes]

Any vehicle used for business purposes is a tax benefit, but the difference in this case is that you can write off such a large amount of the expense as opposed to depreciating it over subsequent years. I have a car that I use for business purposes, and I have to depreciate it over multiple years as opposed to taking the full tax benefit all at once.

There are plenty of sections in the IRC worthy of taking advantage, so I don't know why this one gets so much attention 🙂

 

[Encryptic]

Originally posted by: Descartes
Any vehicle used for business purposes is a tax benefit, but the difference in this case is that you can write off such a large amount of the expense as opposed to depreciating it over subsequent years. I have a car that I use for business purposes, and I have to depreciate it over multiple years as opposed to taking the full tax benefit all at once.

There are plenty of sections in the IRC worthy of taking advantage, so I don't know why this one gets so much attention 🙂

The fact that a Stupid Ugly Vehicle is de rigeur in America these days? 😛

 

[waggy]

Originally posted by: Descartes
Any vehicle used for business purposes is a tax benefit, but the difference in this case is that you can write off such a large amount of the expense as opposed to depreciating it over subsequent years. I have a car that I use for business purposes, and I have to depreciate it over multiple years as opposed to taking the full tax benefit all at once.

There are plenty of sections in the IRC worthy of taking advantage, so I don't know why this one gets so much attention 🙂

I think it gets so much attention because it was started off as a good idea. To give small business a hand at buying the equipment they need (wich is why it is a larger amount then you can usually write off). But some a-hole poeple decided to use it to get Hummers.

It will be fixed (maybe) i just hope it does not hurt small contractors.

 

[Descartes]

Originally posted by: Encryptic

Originally posted by: Descartes
Any vehicle used for business purposes is a tax benefit, but the difference in this case is that you can write off such a large amount of the expense as opposed to depreciating it over subsequent years. I have a car that I use for business purposes, and I have to depreciate it over multiple years as opposed to taking the full tax benefit all at once.

There are plenty of sections in the IRC worthy of taking advantage, so I don't know why this one gets so much attention 🙂

The fact that a Stupid Ugly Vehicle is de rigeur in America these days? 😛

Oh I completely agree with that, but there are so many other ways to save, and often more. I guess this is just the most egregious exploitation that it elicits such interest.

 

[rh71]

Originally posted by: Encryptic

Originally posted by: Descartes
Any vehicle used for business purposes is a tax benefit, but the difference in this case is that you can write off such a large amount of the expense as opposed to depreciating it over subsequent years. I have a car that I use for business purposes, and I have to depreciate it over multiple years as opposed to taking the full tax benefit all at once.

There are plenty of sections in the IRC worthy of taking advantage, so I don't know why this one gets so much attention 🙂

The fact that a Stupid Ugly Vehicle is de rigeur in America these days? 😛

nice try, but a vehicle can't be stupid. :roll:

 

[Descartes]

Originally posted by: rh71

Originally posted by: Encryptic

Originally posted by: Descartes
Any vehicle used for business purposes is a tax benefit, but the difference in this case is that you can write off such a large amount of the expense as opposed to depreciating it over subsequent years. I have a car that I use for business purposes, and I have to depreciate it over multiple years as opposed to taking the full tax benefit all at once.

There are plenty of sections in the IRC worthy of taking advantage, so I don't know why this one gets so much attention 🙂

The fact that a Stupid Ugly Vehicle is de rigeur in America these days? 😛

nice try, but a vehicle can't be stupid. :roll:

Cars/trucks certainly have something of a mechanical personality, and in this case they just mimic that of their owners.

🙂

 

[Encryptic]

Originally posted by: rh71

Originally posted by: Encryptic

Originally posted by: Descartes
Any vehicle used for business purposes is a tax benefit, but the difference in this case is that you can write off such a large amount of the expense as opposed to depreciating it over subsequent years. I have a car that I use for business purposes, and I have to depreciate it over multiple years as opposed to taking the full tax benefit all at once.

There are plenty of sections in the IRC worthy of taking advantage, so I don't know why this one gets so much attention 🙂

The fact that a Stupid Ugly Vehicle is de rigeur in America these days? 😛

nice try, but a vehicle can't be stupid. :roll:

I'm not even going to get into an SUV debate in this thread.

I'll just sum up my opinion and that will be my last word on it:

If you don't need the fscking thing, get a car and not something that you "need" to impress the Joneses. I realize that SUVs have legitimate purposes and I have no quarrel with the people that actually utilize them for purposes other than driving around with *1* person in the vehicle.

Otherwise, it's just going to be another Stupid Ugly Vehicle that you bought to fulfill some deep-seated penile insecurity issues or whatever your problem may be. 😛


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