Tax Deduction For Hummer?
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
Remember, a tax deduction only reduces your taxable income. Therefore, the true
value of a deduction depends on what tax bracket you are in (10%, 15%, etc).
Also, if you reduce your taxable income to the point where you don't owe any
tax, you just kissed your non-refundable tax credits good-bye, like day care
credit, child tax credit, and both education credits (hope/lifetime).
all that glitters isn't gold.....stick with jeep ;)
Paul Brogren wrote:
> I just got done watching a program on Discovery Times Channel. The program
> gave the insight on the new Nissan Titan, Ford F150, and Hummer H2 and 1.
> At the end of the show, the people that were in the Milwaukee, WI. Hummer
> 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? I still will
> never buy one!.
>
> --
> Thanks Always !!!
> Paul '75 CJ5 258
> Vail, CO.
value of a deduction depends on what tax bracket you are in (10%, 15%, etc).
Also, if you reduce your taxable income to the point where you don't owe any
tax, you just kissed your non-refundable tax credits good-bye, like day care
credit, child tax credit, and both education credits (hope/lifetime).
all that glitters isn't gold.....stick with jeep ;)
Paul Brogren wrote:
> I just got done watching a program on Discovery Times Channel. The program
> gave the insight on the new Nissan Titan, Ford F150, and Hummer H2 and 1.
> At the end of the show, the people that were in the Milwaukee, WI. Hummer
> 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? I still will
> never buy one!.
>
> --
> Thanks Always !!!
> Paul '75 CJ5 258
> Vail, CO.
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
Well...
I am a service tech with my own company for 10 years and have to be on
the road at any of the 24 hours of the day up here in Canada.
I 'need' a 4x4 to go to work, period.
My CJ7 is the 'perfect' service truck for me! All my tools can fit in
the back and at 4:00 AM before the plows get out, which one contract had
me doing 3 days+ a week for 9 years, I can still go anywhere with my
33x9.5 BFG Muds and Warn XD9000i winch on front.
I can write off all the repairs and fuel on it because I have a second
'family' vehicle, which is a Cherokee. My wife gets off at midnight
some days, she needs a 4x4 too..
One contractor I work with that normally takes me in his van for the day
had me follow him to all the service calls for 2 weeks this spring
during a two week ice storm. I got paid for the 'needed' extra truck
even.
I need the income deduction or as much of it as the accountant tells me
to submit.
Every little bit helps. ;-)
When I have 0 net income, I get 'all' the tax credits. Too much income
and I don't 'need' the tax credits so don't get them. That is how it
works up here in Canada....
Mike
86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00
88 Cherokee 235 BFG AT's
Football God wrote:
>
> Remember, a tax deduction only reduces your taxable income. Therefore, the true
> value of a deduction depends on what tax bracket you are in (10%, 15%, etc).
> Also, if you reduce your taxable income to the point where you don't owe any
> tax, you just kissed your non-refundable tax credits good-bye, like day care
> credit, child tax credit, and both education credits (hope/lifetime).
>
> all that glitters isn't gold.....stick with jeep ;)
>
> Paul Brogren wrote:
>
> > I just got done watching a program on Discovery Times Channel. The program
> > gave the insight on the new Nissan Titan, Ford F150, and Hummer H2 and 1.
> > At the end of the show, the people that were in the Milwaukee, WI. Hummer
> > 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? I still will
> > never buy one!.
> >
> > --
> > Thanks Always !!!
> > Paul '75 CJ5 258
> > Vail, CO.
I am a service tech with my own company for 10 years and have to be on
the road at any of the 24 hours of the day up here in Canada.
I 'need' a 4x4 to go to work, period.
My CJ7 is the 'perfect' service truck for me! All my tools can fit in
the back and at 4:00 AM before the plows get out, which one contract had
me doing 3 days+ a week for 9 years, I can still go anywhere with my
33x9.5 BFG Muds and Warn XD9000i winch on front.
I can write off all the repairs and fuel on it because I have a second
'family' vehicle, which is a Cherokee. My wife gets off at midnight
some days, she needs a 4x4 too..
One contractor I work with that normally takes me in his van for the day
had me follow him to all the service calls for 2 weeks this spring
during a two week ice storm. I got paid for the 'needed' extra truck
even.
I need the income deduction or as much of it as the accountant tells me
to submit.
Every little bit helps. ;-)
When I have 0 net income, I get 'all' the tax credits. Too much income
and I don't 'need' the tax credits so don't get them. That is how it
works up here in Canada....
Mike
86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00
88 Cherokee 235 BFG AT's
Football God wrote:
>
> Remember, a tax deduction only reduces your taxable income. Therefore, the true
> value of a deduction depends on what tax bracket you are in (10%, 15%, etc).
> Also, if you reduce your taxable income to the point where you don't owe any
> tax, you just kissed your non-refundable tax credits good-bye, like day care
> credit, child tax credit, and both education credits (hope/lifetime).
>
> all that glitters isn't gold.....stick with jeep ;)
>
> Paul Brogren wrote:
>
> > I just got done watching a program on Discovery Times Channel. The program
> > gave the insight on the new Nissan Titan, Ford F150, and Hummer H2 and 1.
> > At the end of the show, the people that were in the Milwaukee, WI. Hummer
> > 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? I still will
> > never buy one!.
> >
> > --
> > Thanks Always !!!
> > Paul '75 CJ5 258
> > Vail, CO.
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
Well...
I am a service tech with my own company for 10 years and have to be on
the road at any of the 24 hours of the day up here in Canada.
I 'need' a 4x4 to go to work, period.
My CJ7 is the 'perfect' service truck for me! All my tools can fit in
the back and at 4:00 AM before the plows get out, which one contract had
me doing 3 days+ a week for 9 years, I can still go anywhere with my
33x9.5 BFG Muds and Warn XD9000i winch on front.
I can write off all the repairs and fuel on it because I have a second
'family' vehicle, which is a Cherokee. My wife gets off at midnight
some days, she needs a 4x4 too..
One contractor I work with that normally takes me in his van for the day
had me follow him to all the service calls for 2 weeks this spring
during a two week ice storm. I got paid for the 'needed' extra truck
even.
I need the income deduction or as much of it as the accountant tells me
to submit.
Every little bit helps. ;-)
When I have 0 net income, I get 'all' the tax credits. Too much income
and I don't 'need' the tax credits so don't get them. That is how it
works up here in Canada....
Mike
86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00
88 Cherokee 235 BFG AT's
Football God wrote:
>
> Remember, a tax deduction only reduces your taxable income. Therefore, the true
> value of a deduction depends on what tax bracket you are in (10%, 15%, etc).
> Also, if you reduce your taxable income to the point where you don't owe any
> tax, you just kissed your non-refundable tax credits good-bye, like day care
> credit, child tax credit, and both education credits (hope/lifetime).
>
> all that glitters isn't gold.....stick with jeep ;)
>
> Paul Brogren wrote:
>
> > I just got done watching a program on Discovery Times Channel. The program
> > gave the insight on the new Nissan Titan, Ford F150, and Hummer H2 and 1.
> > At the end of the show, the people that were in the Milwaukee, WI. Hummer
> > 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? I still will
> > never buy one!.
> >
> > --
> > Thanks Always !!!
> > Paul '75 CJ5 258
> > Vail, CO.
I am a service tech with my own company for 10 years and have to be on
the road at any of the 24 hours of the day up here in Canada.
I 'need' a 4x4 to go to work, period.
My CJ7 is the 'perfect' service truck for me! All my tools can fit in
the back and at 4:00 AM before the plows get out, which one contract had
me doing 3 days+ a week for 9 years, I can still go anywhere with my
33x9.5 BFG Muds and Warn XD9000i winch on front.
I can write off all the repairs and fuel on it because I have a second
'family' vehicle, which is a Cherokee. My wife gets off at midnight
some days, she needs a 4x4 too..
One contractor I work with that normally takes me in his van for the day
had me follow him to all the service calls for 2 weeks this spring
during a two week ice storm. I got paid for the 'needed' extra truck
even.
I need the income deduction or as much of it as the accountant tells me
to submit.
Every little bit helps. ;-)
When I have 0 net income, I get 'all' the tax credits. Too much income
and I don't 'need' the tax credits so don't get them. That is how it
works up here in Canada....
Mike
86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00
88 Cherokee 235 BFG AT's
Football God wrote:
>
> Remember, a tax deduction only reduces your taxable income. Therefore, the true
> value of a deduction depends on what tax bracket you are in (10%, 15%, etc).
> Also, if you reduce your taxable income to the point where you don't owe any
> tax, you just kissed your non-refundable tax credits good-bye, like day care
> credit, child tax credit, and both education credits (hope/lifetime).
>
> all that glitters isn't gold.....stick with jeep ;)
>
> Paul Brogren wrote:
>
> > I just got done watching a program on Discovery Times Channel. The program
> > gave the insight on the new Nissan Titan, Ford F150, and Hummer H2 and 1.
> > At the end of the show, the people that were in the Milwaukee, WI. Hummer
> > 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? I still will
> > never buy one!.
> >
> > --
> > Thanks Always !!!
> > Paul '75 CJ5 258
> > Vail, CO.
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
LOL!
That's Soooo easy man!
I own a small company, me, myself and I lately are the employees, but
have had up to 7 'employees' or sub contractors working at one time in
the past.
Just make sure you invite someone along to a fancy dinner or party first
with a company name in your field behind them. They will bring a
partner to as it is a 'business' social event. What you both do later
is your own business. ;-)
Entertainment deduction!
You can even split the check and both or all claim if you need the claim
above the basic allowance given each year. Most folks don't pass the
basic so just claim the basic with no questions asked.
Even taking a client and his wife on a 'business' trip to some exotic
local can be a tax write off if you need that kind of drop in income to
drop you a tax bracket....
That is what good accountants get paid the big bucks for, eh....
'Totally' legit!
So if you think about it like any local joke group type, or a 'Newfie'
in our case might... well ---- dere b'y... I have a $2000.00 tax write
off for 'entertainment' expenses a year on me company dere, lard
tunderin jaysus, may as well use er up, keep the receipts and then I can
claim above it eh, b'y! ;-)
LOL!
Mike
86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00
88 Cherokee 235 BFG AT's
Jeff Strickland wrote:
>
> Since when can one deduct the cost of Saturday night pleasures ....
That's Soooo easy man!
I own a small company, me, myself and I lately are the employees, but
have had up to 7 'employees' or sub contractors working at one time in
the past.
Just make sure you invite someone along to a fancy dinner or party first
with a company name in your field behind them. They will bring a
partner to as it is a 'business' social event. What you both do later
is your own business. ;-)
Entertainment deduction!
You can even split the check and both or all claim if you need the claim
above the basic allowance given each year. Most folks don't pass the
basic so just claim the basic with no questions asked.
Even taking a client and his wife on a 'business' trip to some exotic
local can be a tax write off if you need that kind of drop in income to
drop you a tax bracket....
That is what good accountants get paid the big bucks for, eh....
'Totally' legit!
So if you think about it like any local joke group type, or a 'Newfie'
in our case might... well ---- dere b'y... I have a $2000.00 tax write
off for 'entertainment' expenses a year on me company dere, lard
tunderin jaysus, may as well use er up, keep the receipts and then I can
claim above it eh, b'y! ;-)
LOL!
Mike
86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00
88 Cherokee 235 BFG AT's
Jeff Strickland wrote:
>
> Since when can one deduct the cost of Saturday night pleasures ....
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
LOL!
That's Soooo easy man!
I own a small company, me, myself and I lately are the employees, but
have had up to 7 'employees' or sub contractors working at one time in
the past.
Just make sure you invite someone along to a fancy dinner or party first
with a company name in your field behind them. They will bring a
partner to as it is a 'business' social event. What you both do later
is your own business. ;-)
Entertainment deduction!
You can even split the check and both or all claim if you need the claim
above the basic allowance given each year. Most folks don't pass the
basic so just claim the basic with no questions asked.
Even taking a client and his wife on a 'business' trip to some exotic
local can be a tax write off if you need that kind of drop in income to
drop you a tax bracket....
That is what good accountants get paid the big bucks for, eh....
'Totally' legit!
So if you think about it like any local joke group type, or a 'Newfie'
in our case might... well ---- dere b'y... I have a $2000.00 tax write
off for 'entertainment' expenses a year on me company dere, lard
tunderin jaysus, may as well use er up, keep the receipts and then I can
claim above it eh, b'y! ;-)
LOL!
Mike
86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00
88 Cherokee 235 BFG AT's
Jeff Strickland wrote:
>
> Since when can one deduct the cost of Saturday night pleasures ....
That's Soooo easy man!
I own a small company, me, myself and I lately are the employees, but
have had up to 7 'employees' or sub contractors working at one time in
the past.
Just make sure you invite someone along to a fancy dinner or party first
with a company name in your field behind them. They will bring a
partner to as it is a 'business' social event. What you both do later
is your own business. ;-)
Entertainment deduction!
You can even split the check and both or all claim if you need the claim
above the basic allowance given each year. Most folks don't pass the
basic so just claim the basic with no questions asked.
Even taking a client and his wife on a 'business' trip to some exotic
local can be a tax write off if you need that kind of drop in income to
drop you a tax bracket....
That is what good accountants get paid the big bucks for, eh....
'Totally' legit!
So if you think about it like any local joke group type, or a 'Newfie'
in our case might... well ---- dere b'y... I have a $2000.00 tax write
off for 'entertainment' expenses a year on me company dere, lard
tunderin jaysus, may as well use er up, keep the receipts and then I can
claim above it eh, b'y! ;-)
LOL!
Mike
86/00 CJ7 Laredo, 33x9.5 BFG Muds, 'glass nose to tail in '00
88 Cherokee 235 BFG AT's
Jeff Strickland wrote:
>
> Since when can one deduct the cost of Saturday night pleasures ....
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
That was uncalled for.
><bla, bla, bla . . .>
>
> I see that you are good at rehashing information that has already been posted
> to this thread.
>
> Does your babysitter know you are using the computer?
>
>
> Robert Bills
> KG6LMV
> Orange County CA
>
><bla, bla, bla . . .>
>
> I see that you are good at rehashing information that has already been posted
> to this thread.
>
> Does your babysitter know you are using the computer?
>
>
> Robert Bills
> KG6LMV
> Orange County CA
>
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
That was uncalled for.
><bla, bla, bla . . .>
>
> I see that you are good at rehashing information that has already been posted
> to this thread.
>
> Does your babysitter know you are using the computer?
>
>
> Robert Bills
> KG6LMV
> Orange County CA
>
><bla, bla, bla . . .>
>
> I see that you are good at rehashing information that has already been posted
> to this thread.
>
> Does your babysitter know you are using the computer?
>
>
> Robert Bills
> KG6LMV
> Orange County CA
>
Guest
Posts: n/a
Re: Tax Deduction For Hummer?
If you can afford a new hummer, I bet you are probably not in the 10
or 15 percent bracket!
> Remember, a tax deduction only reduces your taxable income. Therefore, the true
> value of a deduction depends on what tax bracket you are in (10%, 15%, etc).
or 15 percent bracket!
> Remember, a tax deduction only reduces your taxable income. Therefore, the true
> value of a deduction depends on what tax bracket you are in (10%, 15%, etc).