30K Tax Break for Buying a new Hummer - Cool!
 

Check this link out, some obscure US tax law aimed at benefitting farmers....

http://www.imakenews.com/autospies/e...e000116178.cfm

Applies to any light truck with a GVW of 6000lbs or more, there is a list of vehicles that apply in the article.

how much are hummers anyways?

If you get a $30k tax break, that means $30k less of your income is taxed correct? So in essence you would be saving maybe 35% of the $30k, or whatever your tax break was? Am I understanding it correctly?

If so, getting to write $30k off may save you $9k or $10k maybe, depending on your tax bracket?

Yes that is how it works, they also can be depreciated at a faster rate, and I think its something the your average accountant would not think to exploit.

Hey 10k ... It beats a poke in the eye with a stick.

yep, sounds about right

Yep still a great deal! And definitely beats a poke in the eye, agreed! :)