Electrical Golf Cart -- Tax credit ??????

John & Angela wrote:
Funny story. When we bought our club car in 2003 that was one of the selling points of the cart. It has signals, seat belts, highway tires, 4 wheel brakes, goes 24 MPH. Had to brake it to him that we were Canadian and it didn't do us any good. Bought it anyway, brand new 4900 bucks. Still runs great. Funny thing was he had just bought a Hummer that gave him a 100,000 dollar tax credit. That one surprised me but apparently was quite common during the Bush era tax credits. Who would have thought that someone that can afford a hummer getting 14 mpg needed a 100,000 dollar tax credit. I'm looking at this through the eyes of a foreigner. I am sure there was more to it. I just never looked into it.

you're referring to Section 179 of the tax code which has existed for some time. basically, it encourages businesses to invest in themselves by creating tax credits for certain types of equipment used to operate the business. the stimulus act of 2008 (when democrats controlled both chambers) increased the tax credit limits for a year with the idea that the credits would roll back to previous levels. in order to qualify for a tax credit on the hummer the fellow you're referring to either was able to qualify that purchase for his business or he committed fraud. if you care to learn more just google 'section 179'.