Discussion:Tax Credit for SUV/Hummer?
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Discussion Forum Index --> Basic Tax Questions --> Tax Credit for SUV/Hummer?
Discussion Forum Index --> Tax Questions --> Tax Credit for SUV/Hummer?
| 4 January 2008 | |
| Had a client mention that there used to be some kind of credit for those that bought oversized autos. Can anyone enlighten me on this? Thanks! | |
| 4 January 2008 | |
| There is a credit for the electric Hummer SUV. GM needs to produce it. | |
| 4 January 2008 | |
| Not referring to that though. He said there used to be a credit years ago and wondered if there was still one. I know there's not one now, but just want some insight on his comments. | |
| 4 January 2008 | |
| The only credit is available GREEN machines AKA Hybrids but there is a phase out depending on the make and model. | |
| 4 January 2008 | |
| Pegoo,
Understood, but this was not what he was referring to. What was he refering to? I guess that's the question... | |
Death&Taxes (talk|edits) said: | 4 January 2008 |
| Probably something about being >6000 lbs and he confuses credits with expensing. | |
| 4 January 2008 | |
| That's what I said to him as well, but he assured me it was a credit. I guess an IT guy would know better than me... :) | |
Death&Taxes (talk|edits) said: | 4 January 2008 |
| In days of yore, we used to talk about the North Carolina moron deduction [the state gave an extra deduction when there was a dependent with a certain low IQ]. Your guy should get some kind of idiot credit for being willing to spend that much $$$$$ on gas.
Do they make a diesel? | |
| 4 January 2008 | |
| Electric Hummer, are you kidding me? There should be a Hummer luxury tax, mounds of steel plowing down the road; obscene. You'd have to fill the entire interior with batteries, and have a solar panel on the roof to move one of those things. | |
Death&Taxes (talk|edits) said: | 4 January 2008 |
| Every year an artist will come in and assure me a bill passed to permit artists to deduct the value of their works when donating them to charity. Every year I have to ask what they are smoking. Tell him you don't see Form H2 listed. | |
Tonymontana (talk|edits) said: | 4 January 2008 |
| When I first started out in the business I had a friend call me and ask me about the new "Managers Credit."
I did all kinds of research and didn't find anything. Pissed me off. | |
Www.cpa1.biz (talk|edits) said: | 4 January 2008 |
| Could it be the acceleration credit or something like that was about 3 years ago but it is no longer being allowed. | |
| 5 January 2008 | |
| I think about 10-15 years ago there was a PROPOSED credit for first time home buyers. It never passed. I still get people asking about it. | |
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