View Single Post
  #273   Report Post  
Posted to rec.woodworking
John Horner John Horner is offline
external usenet poster
 
Posts: 46
Default Do you care where your tools are manufactured?

J. Clarke wrote:
B A R R Y wrote:
J. Clarke wrote:
So get the laws changed so that station wagons and old-style luxury
cars aren't unduly penalized and you'll see SUVs mostly go away.


The laws did change, either this year or in tax year 2006. I seem
to
remember hearing that a Section 179 truck depreciation deduction
went
to 10000 pounds GVW.

I don't own anything that qualifies right now, so I', not positive.


Huh? What, exactly, does a tax deduction on business use of a motor
vehicle have to do with the fuel economy laws?


The generous tax deduction for business owned vehicles (which includes
just about every consultant, small business and contract employee like
real estate agents) was for a time only available to vehicles with over
a 6,000 lb. gross vehicle weight (vehicle plus full load). Hummers,
Expeditions and the like qualified while normal passenger vehicles did
not. Thus a large number of folks were given a tax break only if they
bought a monster truck instead of a passenger vehicle. The deduction
allowed for a full write off in the year of purchase.

You can read all about it he

http://www.bankrate.com/brm/itax/biz...20030403b1.asp