Tax Breaks on SUVs should be limited
The Bush government must review it’s tax break rules on SUVs. The US government allows greater tax breaks of up to $75,000 (previously $25,000) for businesses and self-employed people who purchase a SUVs. The proposed tax deduction for purchases of "capital equipment" is part of the president’s economic stimulus plan – however there is a definite loophole regarding a large SUV could be classified as a “truck”.
The tax credits for fuel-efficient cars remains stuck in the US congress, the US government was able give the green light to tax deductions of up to $75,000 for the least fuel-efficient and most polluting vehicles.
The law should be amended that the vehicle must be used for 100% business use before the business is eligible for a tax break on a SUV.
The tax credits for fuel-efficient cars remains stuck in the US congress, the US government was able give the green light to tax deductions of up to $75,000 for the least fuel-efficient and most polluting vehicles.
The law should be amended that the vehicle must be used for 100% business use before the business is eligible for a tax break on a SUV.
