On Wed, 02 Feb 2005 01:55:15 -0500, Cliff wrote:
On 1 Feb 2005 23:31:01 GMT, Dan Murphy wrote:
As always talk to your accountant or tax expert.
http://www.taxguide-engineersandarchitects.com/
"If the 2005 Tax and Financial Guide for Engineers & Architects does
not save you an extra $300 or more on your taxes, your money will be
refunded when the book is returned within 30 days."
The 2005 Tax and Financial Guide for Engineers & Architects
For the tax year 2004
This should be a large help for some and a planning guide
for next year for others.
Ever wonder what deductions you may have missed?
Example:
[
SUV Loophole
If you drive a substantial amount for business (say, for commuting at
an out-of-town job), an incredible loophole is open to you. For
example, based on full-time usage, you can deduct up to 100% of the
cost of an SUV (up to $102,000) in just the first year. But you must
buy a large SUV or Pick-Up to take advantage of this tax break.
]
HTH
This is a classic example of the law of unintended consequences, not a
deliberate tax break for rich SUV owners.
The provision was written to allow businesses to expense delivery
trucks and such. That's why there's a weight requirement and the 100
percent business use. Of course some SUVs fall into that weight
category and as soon as people noticed that, well. . .
--RC
"Sometimes history doesn't repeat itself. It just yells
'can't you remember anything I've told you?' and lets
fly with a club.
-- John W. Cambell Jr.