Seems that tax cut has a loophole allowing small business owners (including Doctors, Lawyers, and Accoutants) write off the entire cost of their SUV, instead of facing depriciation.

No, it doesn't cover cars. Yes it covers Humvees, Escalades, and Navigators.

I'll keep this in mind while I enjoy my extra $200 or so tax cut next year.


http://www.detnews.com/2003/autosins...tos-179061.htm

 

Ya, I'm not real happy with the $400 rebate 'per child' thing either... basically, I am punished because I have no children.

 

I'll loan ya one of mine. Trust me... you're saving much more than $400 per year by NOT having kids!

 

hehehe

I guess I just feel that 'tax breaks' shouldn't be conditional.

 

$400!? I spend that in one month for each child in daycare! Not counting food, diapers, toys, etc. Tell ya what Darth, you pay my kids expenses for a year and I'll let ya have my "rebates". har har!

Seriously, I do agree with you that everyone that paid taxes should get some amount back based on how much they paid... that would be fair.

 

WHAT?

Now you can kiss the CAR industry in this country goodbye. There are over 10 million businesses, big and small, in the US. If even a small percentage of them buy a SUV to take advantage of this IDIOTIC BACKROOM PALM-GREASING loophole, guess what happens to car sales? If another ten million people file a DBA and set up a consultancy in their home so they can have an Escalade, guess what happens to car sales?

Guess I might have to get up in front of Congress and argue that a C6 is really an SUV.

 

stupid

 

Ok guys. Lets calm down here. Did you know this was in effect for the last 10 years???

And why is this?

Well, the deduction was enacted for farmers (yes farmers), so that they could buy large equipment. The deduction is for vehicles over 6,000lbs. No mention of if it is a car/suv/bike, or whatever.

Eventually, as SUVs started pushing this 6,000lb barrier (which wasn't too long ago) small buisnesses saw the "loop hole" and started using it.

This year the max deduction was raised from 30,000 to 100,000 to allow for farmers to buy more expensive equipment, and still write the whole cost off. Therefore, helping people who otherwise couldn't afford state of the art equipement.

See, now why did you get your panties in a wad before you knew the real reason???

 

Time for a flat tax. Russia has one. Why can't we?

 

Hellooooooo. Anybody in theiiiirrr?

 

You know, my accountant clued me in to this earlier this year.

Even with a huge tax incentive for me....I still can't bring myself to spend $40K+++ on a 3 ton or over, SUV.

What's wrong with me...am I sick?

 

Where have you been guionM? Why do you think the H2 sales have been so good?

 

Mervz:

What is wrong with asking why the USA, the bastion of democracy and equality, does not have a flat tax? It would certainly eliminate all these idiotic loopholes.

I point out the Russian example because it's somewhat ironic that the former communists now have a fairer, simpler tax system than our own. It has also increased their tax revenue significantly because less people feel the need to dodge a 13% flat tax than a 30-35% tax.

 

It's your comparison to Russia that had me worried.

I actaully liked Steve Forbes when he tried for pres.

 

I liked Forbes, too.

And yeah, Russia has plenty of problems. I'm not in a rush to live there. It just seems that there's a better answer than 42,000 pages of tax code (or is it 44,000 now?)