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Posted: 2/22/2006 1:07:51 PM EDT
From the March TCGC newsletter:


Gun Safe Tax Break

Per an article in the February issue of American Rifleman: a
Senate bill titled Child Protection and Home Safety Act of 2005
and a corresponding House Resolution 947 will encourage the
purchase of gun safes. As stated, these bills would provide a
25% tax credit ($250 credit maximum) for the purchase of a
home firearms safe.
If you are considering such a purchase, you will want to take
advantage of this legislation. It is an opportunity for responsible
gun owners to get off the fence and make the investment. We
will advise our membership when this legislation passes.



I like tax credits! And for gun stuff too!
Link Posted: 2/22/2006 1:10:25 PM EDT
I bought two this year...

What tax line would this go under?
Link Posted: 2/22/2006 1:13:06 PM EDT


I'm just a bill,
Yes, I'm only a bill,
And I'm sitting here on Capitol Hill.
Well, it's a long, long journey
To the capital city,
It's a long, long wait
While I'm sitting in committee,
But I know I'll be a law someday...
At least I hope and pray that I will,
But today I'm still just a bill.

Link Posted: 2/22/2006 1:27:59 PM EDT

Originally Posted By WS4LIF:
I bought two this year...

What tax line would this go under?



If you bought this year (Jan 1, 2006 to today) then it would next years taxes. BTW, from what is posted above, this is a bill only. Remember your schoolhouse rock, after the process' (house & senate), GW has to sign into law before you can get the credit.

Wonder if it's new safes only. If not, my wife will be buying mine from me
Link Posted: 2/22/2006 1:46:13 PM EDT

Originally Posted By munkalido:

Originally Posted By WS4LIF:
I bought two this year...

What tax line would this go under?



If you bought this year (Jan 1, 2006 to today) then it would next years taxes. BTW, from what is posted above, this is a bill only. Remember your schoolhouse rock, after the process' (house & senate), GW has to sign into law before you can get the credit.

Wonder if it's new safes only. If not, my wife will be buying mine from me



And then next year you buy it back?
Link Posted: 2/23/2006 10:49:50 AM EDT
I saw that, too. My first thought was, wow, a tax credit. Then my next thought was will this turn into some mandatory thing where you must keep everything locked up, unloaded, with the bolt removed, etc...
Link Posted: 2/23/2006 11:31:03 AM EDT

Originally Posted By zougou:
I saw that, too. My first thought was, wow, a tax credit. Then my next thought was will this turn into some mandatory thing where you must keep everything locked up, unloaded, with the bolt removed, etc...



IRS Audits will now include Weapons checks!
Link Posted: 2/23/2006 11:32:51 AM EDT
yes, a "gun" tax break....serial numbers please!
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