SUV Tax Loophole

[juejaimon]

Hi all,


Im in need to register a new vehicle we just bought for our business. We are not quite sure how to register it to take advantage of the SUV tax loophole. If someone has knowledge of this and can answer a few questions, please let me know... thanks

Steve

 

[ANYTIME]

PM sent

 

[smite]

Hi all,


Im in need to register a new vehicle we just bought for our business. We are not quite sure how to register it to take advantage of the SUV tax loophole. If someone has knowledge of this and can answer a few questions, please let me know... thanks

Steve

They closed it down from $100k to $25k for most applications as of Oct 2004.

Too slow on the ball I'm afraid.

 

[DONYMO]

This doesn't really buy you much.
Let's say you deduct $25,000 this year for the 100% depreciation.
If you sell the vehicle in 2 years, you need to un-deduct 5 years worth of depreciation.
You don't get your cake and eat it too.