Stupid fags and their H2s - Pic

[deltreefitness]

The H2 is a tax loophole. Under Bush's new tax plan, business owners can deduct the entire cost of their $55,000 H2. If you are in the highest tax bracket, that's a tax savings of nearly $20,000! The government rewards you more savings for buying an H2 than you'd get for buying an electric car.

Can someone explain why this is?

 

[redguru]

Can someone explain why this is?

Because the vehicle falls into the weight class of a commercial vehicle. Why do you think everyone that thinks they're a building contractor drives a dually?

 

[Buddy_Christ]

I think either are cool..

personally if I was in the market now, I'd get the Navigator.

Don't come at me with anything less then 23s on it though.

Fucking UGH. Luxury SUVs are retarded.

 

[deltreefitness]

Fucking UGH. Luxury SUVs are retarded.

Yeah get a truck.

 

[Buddy_Christ]

Yeah get a truck.

I have no problems with SUVs, it's the luxury ones. I used and abused my S-10 Blazer, and I wouldn't mind having another one that was in good shape because it'd get used and abused. I don't like quad cab trucks, and extended cab would probably be too small (family of 4), so if I were to get another 4x4 it'd quite possibly be an SUV, but you can bet your ass it'd get offroaded and would be hauling stuff when needed.

 

[StickFigure]

I think either are cool..

personally if I was in the market now, I'd get the Navigator.

Don't come at me with anything less then 23s on it though.

H2=

Navigator rollin'with the new 26's!! Now dat's what I'm talkin' 'bout!

 

[Fast Twitch Fiber]

Can someone explain why this is?

It's supposed to be a tax break for businesses buying trucks for work. However, some people abuse it and buy their luxury SUV for personal use and claim it is for their business. There are a lot of these tax loopholes out there. I know some people in school who have bought fancy video game computers and then deducted them on their taxes as educational expenses.

 

[MattTheSkywalker]

Can someone explain why this is?

The law allows businesses to deduct commercial vehicles, and to depreciate them fully in the first year. Usually, a business has to depreciate assets over a 5 year period.

For the purposes of writing the law, a commerical vehicle was considered a vehicle that weighs over 6,000 pounds.

Thus, if you buy a car that weighs 6,000 pounds or more, you can deduct the entire expense from your income tax (if you are an LLC or sole proprietorship, which is easy).

So in theory if you bought a H2 you could lower your income by $55K for tax purposes.

What people never tell you is that this has been a stunning success for business. Are a few people misusing it? Sure. So what? Most of the complaints here are pure class warfare.

 

[EnderJE]

Is that a picture of Decepticon on the back window?!?

Transformers, more then meets the eye.

lol

how l33t...transformers

 

[deltreefitness]

So in theory if you bought a H2 you could lower your income by $55K for tax purposes.

When I asked my accountant about write-offs he said, as a corporation, we still have to pay .70 of every dollar if we write something off. I'm pretty sure it's the same (or close) amount for vehicles. So I don't think the entire amount is tax deductible. Hell if it is I'd get a 3+ ton ride myself - for business, of course.