Dan
11-21-2003, 10:13 AM
From the web:
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Hooray!!! The SUV Tax Credit lives on!
Republican leaders dumped a Senate plan to eliminate the SUV tax loophole (Section 179) that allows small-business owners to deduct up to $100,000 from their income for buying SUV's with a GVWR of 6000 lbs. or greater.
For some people, this deduction is more lucrative than their mortgage interest tax deduction.
The only things we would change about the deduction if we could, would be to open it up to any vehicle that is appropriate for each small business owners needs.
Be sure to consult your tax advisor to determine your eligiblity and to get further details.
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SUT on order 12/02. 11 months down, 7 to go!
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Hooray!!! The SUV Tax Credit lives on!
Republican leaders dumped a Senate plan to eliminate the SUV tax loophole (Section 179) that allows small-business owners to deduct up to $100,000 from their income for buying SUV's with a GVWR of 6000 lbs. or greater.
For some people, this deduction is more lucrative than their mortgage interest tax deduction.
The only things we would change about the deduction if we could, would be to open it up to any vehicle that is appropriate for each small business owners needs.
Be sure to consult your tax advisor to determine your eligiblity and to get further details.
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SUT on order 12/02. 11 months down, 7 to go!
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