New Tax Deductions     The latest changes in the tax law that will effect you. Home Forums Newsletter    Articles Hurricane Katrina Contribution Hybrid Car $2000 Deduction Solar Hot Water Systems Energy Improvement Deduction Free Tax Filing - IRS Free File Deduction For Donating Car Turn In Tax Cheats Fun Tax Quotes 2004 New Tax Deductions    Partner Pages SUV Deduction Congress closed a loophole this year that many business owners were using to write off the entire cost of their Sport Utility Vehicles (SUVs). Under the old law, SUVs that weighed more than 6,000 pounds could take a first year tax deduction of $100,000 as opposed to the $25,000 deduction for regular cars used for business. The new law brings the deduction for SUVs back in line with regular cars. Under the American Jobs Creation Act of 2004, businesses can now only make a first-year deduction of up to $25,000 for any SUV put into service after October 22, 2004.    Partner Pages Tax Press Release    Pay Day Loan    Financial Baby Steps    Hybrid Car Tax Credit    Clean Credit    [ New Tax Deductions | Contact Us | Disclaimer | Personal Finance ]

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