On Wed, 02 Feb 2005 11:44:43 -0600, Robert Davidson
wrote:



Cliff, I don't think that SUV loophole exists anymore. At least not for
the full deduction.

http://www.taxguru.org/incometax/Rates/Sec179.htm

"As of October 22, 2004, the maximum amount that can be claimed for SUVs
weighing between 6,000 and 14,000 pounds is $25,000. The remaining
$77,000 can be used for other kinds of business equipment, including
vehicles weighing more than 14,000 pounds."

http://www.bankrate.com/brm/itax/Edi..._deduction.asp

"However, when it comes to vehicles purchased utilizing the Section 179
break, legislators took back some of the benefit as it related to large
sport utility vehicles. When the limit was originally increased,
business owners were allowed to select for company use one of several
light-truck models (which included many luxury SUVs) weighing more than
6,000 pounds fully loaded and write off most, if not all, of the costs
on their tax returns. That changed on Oct. 22, when the American Jobs
Creation Act became law; now only company vehicles weighing 14,000 or
more are eligible for the larger deduction amount."


snip


So that'd be a Humvee then?


Mark Rand (in the UK)
RTFM