According to an AP Report, a bill was introduced in the Senate today that would allow tax deductions of up to one hundred thousand dollars for hybrid vehicles and other vehicles which use alternative fuels. Small business owners would also be allowed to claim depreciations on the value fo their vehicles not covered by the deduction
Small business owners are currently allowed up to three thousand dollars in tax credits for buying hybrid vehicles, just as everyone is depending on the vehicle bought. But tax deductions on large SUVs are currently at close to twenty five thousand dollars.
Tax deductions on large SUVs were intended to be used by farmers who buy large vehicles to be used in their business. But some larger SUVs also qualify and so have been eligible for the tax deductions.
Friday, March 03, 2006
US Senate proposes to level the field between large SUVs and hybrids in small businesses.
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