Re: [ST] Resources and Gas....

[Thomas Emberson <thomas@xxxxxxxxxxxxxxxx>]

Denis Liakos wrote:

> http://www.fuh2.com/

Just a bit of FUD

"The H2 is a tax loophole. Under Bush's new tax plan, business owners 
can deduct the entire cost of their $55,000 H2. If you are in the 
highest tax bracket, that's a tax savings of nearly $20,000!"

First of all, you could always deduct the cost of the vehicle, without 
the incentive you just had to amortize the deduction over 5 or 7 years. 
So the only change is how quickly you can deduct the amount.

Secondly, if they sell the vehicle, they are selling a fully depreciated 
asset, so they then have to pay tax on the capital gain of selling 
something that is supposed to be worthless because it was full 
depreciated. MY head hurts.

Very few people realize these 2 points.

BTW, I don't like the H2. If I where going to go for the exemption I 
would go for a F350 diesel and run bio-diesel, and get about 18-22mpg 
pulling 5tons.  But that's just me, since I don't have a trailer, yet, 
my Ranger sitting at home will do just fine .....

cheers,
Tom

- -- 
Thomas Emberson



     *   *   *   *   *   *   *   *   *   *   *   *   *   *   *   *   *   *   *
      The ST/RS Mailing list is sponsored by Jack Lilley Ltd.
          http://www.TriumphNet.com/st/lilley for more info
   http://www.TriumphNet.com/st for ST, RS and Mailing List info

=-=-=-= Next Message =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=