I am all about the tax write offs due to being self employed. I am wondering if I am reading this correctly. http://en.wikipedia.org/wiki/Hummer_H2
According to U.S. tax code can I write off the total cost of my Hummer due to the weight? I am going to speak with my accountant this week, but was looking for anyone that could help. If I am correct in reading this.........WOOOOOOOOOO HOOOOOOOOOO!

 

im also wondering the same thing since i am also self employed and own 2 hummer h2`s

 

Not the total cost, there is a $25,000.00 limit after 10/22/2004. Still much better than for a regualr automobile under 6000#. Definitely see the CPA, not us.

 

Definately getting with my CPA. Just looking for information from anyone possibly using the deduction, and also passing along information to possibly help others. As for the limit of 25k......better than a sharp stick in the eye.

 

Yeah, wrote off one of mine in 05 and depreciated the other and then wrote off the other in 06. And from what I remember the cap as higher but it may be different in every state (not sure). That you should check w/your CPA. But yeah if you made the purchase (not lease) it's a write off. On leases you can write off the monthly payments, milage and fuelon, if self employed.

 

I got the tax advantage, but I wish I gotmy H2 earlier because I coul have written the whole thing off

 

Does this apply to those of who are just employed? I cant get the site to work from here in the sand box.

 

It only applies to self employed, but there's always network marketing...............Gotta have the H2 to pull the boat you do all your business entertaining on. Be safe in the sand box and God Bless Ya