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Bill Curbs SUV Tax Write-Off

The break for small-business owners is trimmed to $25,000 instead of $100,000.

The Detroit News

By Jeff Plungis / Detroit News Washington Bureau

October 7, 2004

WASHINGTON - Time is running out for small business owners who want to write off up to $100,000 on the purchase of a new SUV.

Under a bill that could be sent to President Bush by the end of the week, the so-called SUV tax break would be scaled back to $25,000.

Under current law, small business owners can write off up to $100,000 of the purchase of a 6,000-pound SUV, van or truck. The tax break covers large vehicles because they meet the definition of business equipment - the main focus of the tax break. Other types of passenger cars are subject to much more rigorous limitations.

rest of article http://www.detnews.com/2004/autosins...b01-296481.htm