Tax Loophole for Hummer H2s


“How is this possible?” Thorpe asks. “Thanks to the Bush administration’s recent economic stimulus package, small businesses and the self-employed are eligible to deduct the entire purchase cost of new equipment up to $100,000 the year of the purchase.” But these provisions are supposed to help farmers and small-business owners buy equipment to transport merchandise and haul stuff. No matter. “The Hummer H2 qualifies for this IRS Sec. 179 deduction by its gross vehicle weight of over 6,000 lbs. Cars and medium sized SUV’s don’t qualify for this deduction,” Thorpe writes. “If you are seriously considering acquisition of a new vehicle, step up to the vehicle that can take you where you want to be, financially and otherwise…”