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#1
06-14-2006, 02:16 AM
Hummer Authority
Join Date: May 2006
Location: South Western PA
Posts: 1,433
Re: Any tax breaks left for buying an H2?
good clarification there, guess i just assumed that they would have known about having to use it for business/work purposes. That deduction has saved us a ton in tax exposure over the years, lets just hope they dont reduce it even further with the pressure from the treehuggers.
__________________
2009 H2 Silver Ice LE
2008 H2 Lux Series, Slate Blue, everything but the air suspension - sold
2006 H2 Lux Series, Uplevel Chrome, DVD's, Slate Blue, Sun Roof - sold
"If Life Gives You Limes, Make Margaritas" - Jimmy Buffett
#2
06-14-2006, 03:07 AM
Hummer Authority
Join Date: Jan 2006
Location: Staind.com
Posts: 1,239
Re: Any tax breaks left for buying an H2?
Makes no difference to me
I bought mine in 02 and wrote off 100%. 
I had 25k in the bank with quarterlies due. Wife gave me a choice, give it to the IRS or give to the dealership - a no brainer eh?
#3
06-15-2006, 02:55 AM
Hummer Authority
Join Date: May 2006
Location: South Western PA
Posts: 1,433
Re: Any tax breaks left for buying an H2?
it is a no brainer....i'd rather drive an H2 than pay uncle sam....at least i have fun with my money with the H2
__________________
2009 H2 Silver Ice LE
2008 H2 Lux Series, Slate Blue, everything but the air suspension - sold
2006 H2 Lux Series, Uplevel Chrome, DVD's, Slate Blue, Sun Roof - sold
"If Life Gives You Limes, Make Margaritas" - Jimmy Buffett
#4
06-15-2006, 11:52 AM
Hummer Guru
Join Date: Oct 2005
Location: Charlotte, NC
Posts: 2,767
Re: Any tax breaks left for buying an H2?
Unless I misunderstood what my accountant said but she told me last year she wrote off 25% of my H2.
I was told that you used to be able to write off 100% but last year they changed it and you can still deduct up to 25%.
Mark
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