Tax Deduction For Hummer?
09-30-2003, 08:11 AM
#11
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
How dark!
Paul Calman wrote:
> There is a clown up here, "Hummer Bail Bonds" with a first series civillian
> HMMV. I've never seen his rig dirty, but I'll bet his soul is.
>
--
__________________________________________________ _________
tw
03 TJ Rubicon
01 XJ Sport
There is a very fine line between "hobby" and "mental illness."
-- Dave Barry
http://www.7slotgrille.com/jeepers/t...ron/index.html
(Please remove the OBVIOUS to reply by email)
__________________________________________________ _________
Paul Calman wrote:
> There is a clown up here, "Hummer Bail Bonds" with a first series civillian
> HMMV. I've never seen his rig dirty, but I'll bet his soul is.
>
--
__________________________________________________ _________
tw
03 TJ Rubicon
01 XJ Sport
There is a very fine line between "hobby" and "mental illness."
-- Dave Barry
http://www.7slotgrille.com/jeepers/t...ron/index.html
(Please remove the OBVIOUS to reply by email)
__________________________________________________ _________
09-30-2003, 09:27 AM
#12
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
>You wouldn't happen to know where to find a list of vehicles this applies
>to?
Start here:
http://www.msnbc.com/local/pisea/104601.asp
Robert Bills
KG6LMV
Orange County CA
http://www.outdoorwire.com/4x4/jeep/...p-l/billsr.htm
http://www.RobertBills.com
>to?
Start here:
http://www.msnbc.com/local/pisea/104601.asp
Robert Bills
KG6LMV
Orange County CA
http://www.outdoorwire.com/4x4/jeep/...p-l/billsr.htm
http://www.RobertBills.com
09-30-2003, 09:27 AM
#13
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
>You wouldn't happen to know where to find a list of vehicles this applies
>to?
Start here:
http://www.msnbc.com/local/pisea/104601.asp
Robert Bills
KG6LMV
Orange County CA
http://www.outdoorwire.com/4x4/jeep/...p-l/billsr.htm
http://www.RobertBills.com
>to?
Start here:
http://www.msnbc.com/local/pisea/104601.asp
Robert Bills
KG6LMV
Orange County CA
http://www.outdoorwire.com/4x4/jeep/...p-l/billsr.htm
http://www.RobertBills.com
09-30-2003, 09:30 AM
#14
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
Robert's correct. This falls under the same form 179 accelerated
depreciation rules as business PCs, printers, etc. A guy won a suit against
the IRS a few years ago, arguing the old 5 yr depreciation schedule was
obsolete, since PCs and peripherals are valueless after a year or so.
Frankly, the Democrats are just making this a political issue to troll for
the Green vote. For every Hummer depreciated there are thousands of work
trucks being purchased due to the new rules. Same old liars...
"Robert Bills" <rdbillsjr@aol.comxxxxxxxx> wrote in message
news:20030930012915.07997.00000050@mb-m11.aol.com...
> >Stealership said that one reason they could afford this H2 was because
they
> >could deduct 3/4's of the purchase price off their upcoming taxes. The
> >elgibilty was because they are a business owner and purchased a "Heavy
> >Weight" truck. I have never heard of this. Anyone else?
>
> Its true. If I remember the tax bulletin correctly, the write off is
> approximately $32,000, and can be taken either as accelerated or 7-year
> depreciation.
>
> Robert Bills
> KG6LMV
> Orange County CA
>
> http://www.outdoorwire.com/4x4/jeep/...p-l/billsr.htm
> http://www.RobertBills.com
depreciation rules as business PCs, printers, etc. A guy won a suit against
the IRS a few years ago, arguing the old 5 yr depreciation schedule was
obsolete, since PCs and peripherals are valueless after a year or so.
Frankly, the Democrats are just making this a political issue to troll for
the Green vote. For every Hummer depreciated there are thousands of work
trucks being purchased due to the new rules. Same old liars...
"Robert Bills" <rdbillsjr@aol.comxxxxxxxx> wrote in message
news:20030930012915.07997.00000050@mb-m11.aol.com...
> >Stealership said that one reason they could afford this H2 was because
they
> >could deduct 3/4's of the purchase price off their upcoming taxes. The
> >elgibilty was because they are a business owner and purchased a "Heavy
> >Weight" truck. I have never heard of this. Anyone else?
>
> Its true. If I remember the tax bulletin correctly, the write off is
> approximately $32,000, and can be taken either as accelerated or 7-year
> depreciation.
>
> Robert Bills
> KG6LMV
> Orange County CA
>
> http://www.outdoorwire.com/4x4/jeep/...p-l/billsr.htm
> http://www.RobertBills.com
09-30-2003, 09:30 AM
#15
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
Robert's correct. This falls under the same form 179 accelerated
depreciation rules as business PCs, printers, etc. A guy won a suit against
the IRS a few years ago, arguing the old 5 yr depreciation schedule was
obsolete, since PCs and peripherals are valueless after a year or so.
Frankly, the Democrats are just making this a political issue to troll for
the Green vote. For every Hummer depreciated there are thousands of work
trucks being purchased due to the new rules. Same old liars...
"Robert Bills" <rdbillsjr@aol.comxxxxxxxx> wrote in message
news:20030930012915.07997.00000050@mb-m11.aol.com...
> >Stealership said that one reason they could afford this H2 was because
they
> >could deduct 3/4's of the purchase price off their upcoming taxes. The
> >elgibilty was because they are a business owner and purchased a "Heavy
> >Weight" truck. I have never heard of this. Anyone else?
>
> Its true. If I remember the tax bulletin correctly, the write off is
> approximately $32,000, and can be taken either as accelerated or 7-year
> depreciation.
>
> Robert Bills
> KG6LMV
> Orange County CA
>
> http://www.outdoorwire.com/4x4/jeep/...p-l/billsr.htm
> http://www.RobertBills.com
depreciation rules as business PCs, printers, etc. A guy won a suit against
the IRS a few years ago, arguing the old 5 yr depreciation schedule was
obsolete, since PCs and peripherals are valueless after a year or so.
Frankly, the Democrats are just making this a political issue to troll for
the Green vote. For every Hummer depreciated there are thousands of work
trucks being purchased due to the new rules. Same old liars...
"Robert Bills" <rdbillsjr@aol.comxxxxxxxx> wrote in message
news:20030930012915.07997.00000050@mb-m11.aol.com...
> >Stealership said that one reason they could afford this H2 was because
they
> >could deduct 3/4's of the purchase price off their upcoming taxes. The
> >elgibilty was because they are a business owner and purchased a "Heavy
> >Weight" truck. I have never heard of this. Anyone else?
>
> Its true. If I remember the tax bulletin correctly, the write off is
> approximately $32,000, and can be taken either as accelerated or 7-year
> depreciation.
>
> Robert Bills
> KG6LMV
> Orange County CA
>
> http://www.outdoorwire.com/4x4/jeep/...p-l/billsr.htm
> http://www.RobertBills.com
09-30-2003, 09:32 AM
#16
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
There's a guy here who uses an H1 to haul outhouses to construction
sites....best use I've ever seen a civilian Hummer put to!
"Paul Calman" <spam@trap.com> wrote in message
news:blbc4u$9gb3m$1@ID-87669.news.uni-berlin.de...
> There is a clown up here, "Hummer Bail Bonds" with a first series
civillian
> HMMV. I've never seen his rig dirty, but I'll bet his soul is.
>
> --
> Paul Calman, Hathaway Pines, California
>
>
sites....best use I've ever seen a civilian Hummer put to!
"Paul Calman" <spam@trap.com> wrote in message
news:blbc4u$9gb3m$1@ID-87669.news.uni-berlin.de...
> There is a clown up here, "Hummer Bail Bonds" with a first series
civillian
> HMMV. I've never seen his rig dirty, but I'll bet his soul is.
>
> --
> Paul Calman, Hathaway Pines, California
>
>
09-30-2003, 09:32 AM
#17
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
There's a guy here who uses an H1 to haul outhouses to construction
sites....best use I've ever seen a civilian Hummer put to!
"Paul Calman" <spam@trap.com> wrote in message
news:blbc4u$9gb3m$1@ID-87669.news.uni-berlin.de...
> There is a clown up here, "Hummer Bail Bonds" with a first series
civillian
> HMMV. I've never seen his rig dirty, but I'll bet his soul is.
>
> --
> Paul Calman, Hathaway Pines, California
>
>
sites....best use I've ever seen a civilian Hummer put to!
"Paul Calman" <spam@trap.com> wrote in message
news:blbc4u$9gb3m$1@ID-87669.news.uni-berlin.de...
> There is a clown up here, "Hummer Bail Bonds" with a first series
civillian
> HMMV. I've never seen his rig dirty, but I'll bet his soul is.
>
> --
> Paul Calman, Hathaway Pines, California
>
>
09-30-2003, 10:35 AM
#18
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
It applies to ALL vehicles!
If you use the vehicle for business purposes the cost of operation, etc.
is deductible either by direct cost OR by a flat rate of ~ $.33/mi.,
whichever is greater.
The pain in the *** if you also use it for personal use is that you
must keep a 'contemporaneous log' of personal vs. business usage ...
keeping accurate records to keep the two 'accounts' separate.
Paul Brogren wrote:
> You wouldn't happen to know where to find a list of vehicles this applies
> to?
>
If you use the vehicle for business purposes the cost of operation, etc.
is deductible either by direct cost OR by a flat rate of ~ $.33/mi.,
whichever is greater.
The pain in the *** if you also use it for personal use is that you
must keep a 'contemporaneous log' of personal vs. business usage ...
keeping accurate records to keep the two 'accounts' separate.
Paul Brogren wrote:
> You wouldn't happen to know where to find a list of vehicles this applies
> to?
>
09-30-2003, 10:35 AM
#19
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
It applies to ALL vehicles!
If you use the vehicle for business purposes the cost of operation, etc.
is deductible either by direct cost OR by a flat rate of ~ $.33/mi.,
whichever is greater.
The pain in the *** if you also use it for personal use is that you
must keep a 'contemporaneous log' of personal vs. business usage ...
keeping accurate records to keep the two 'accounts' separate.
Paul Brogren wrote:
> You wouldn't happen to know where to find a list of vehicles this applies
> to?
>
If you use the vehicle for business purposes the cost of operation, etc.
is deductible either by direct cost OR by a flat rate of ~ $.33/mi.,
whichever is greater.
The pain in the *** if you also use it for personal use is that you
must keep a 'contemporaneous log' of personal vs. business usage ...
keeping accurate records to keep the two 'accounts' separate.
Paul Brogren wrote:
> You wouldn't happen to know where to find a list of vehicles this applies
> to?
>
09-30-2003, 10:43 AM
#20
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
>It applies to ALL vehicles!
Yes and no. While it is true that any vehicle used for business qualifies for
a tax deduction, there are special rules, and a greater depreciation deduction,
for business vehicles weighing more than 6,000 lbs.
Robert Bills
KG6LMV
Orange County CA
http://www.outdoorwire.com/4x4/jeep/...p-l/billsr.htm
http://www.RobertBills.com
Yes and no. While it is true that any vehicle used for business qualifies for
a tax deduction, there are special rules, and a greater depreciation deduction,
for business vehicles weighing more than 6,000 lbs.
Robert Bills
KG6LMV
Orange County CA
http://www.outdoorwire.com/4x4/jeep/...p-l/billsr.htm
http://www.RobertBills.com
