A Horrible Tax Loophole
Thanks to recent changes in tax law, people buying the largest SUVs — those weighing at least 6,000 pounds — may write off more than half the cost if they use the vehicle mostly for business and meet other conditions. The original tax incentive, from the 1980s, was meant to help farmers buy equipment.
Charlotte Observer | 08/07/2003 | Hummer inspires love, hate
are you joking? That is not a recent loophole! The “original” SUVs (1990s) were never paid for by citizens, always their corporations. The corporation gets a write-off, the huge quantity of gas your company buys for you counts as an above-the-line expense (100% deduction vs 30% or whatever) and since it’s classified as a truck, it doesn’t have to meet the same emissions standards!
Point of diatribe? Rich people do NOT PAY TAXES and they DON’T CARE ABOUT YOUR FUTURE.
Hey Rand: Don’t YOU drive an SUV?
-Jonah
Ohh BURN!
Yeah, but it doesn’t weigh close to 6000 pounds. Maybe if I put yermom in the back I could take it down to the DMV and get my tax write off.
Besides, I drive less in one week than most Bay Areans commute in a single day. I thought the humor in this story is that the bigger you buy, the more you can write off.
Hummer Haters
Article: Hummer inspires love, hate Give me a break. At the dealership I bought my H2 at, they also sell other big trucks and most of them are more expensive than the Hummer, such as the Cadillac Escalade. At least…