| Author | Message | ||
     Mrzifear |
I know there are a lot of great deals out there right now. I am thinking of picking up a 2nd bike myself. I don't know if its been said before here but with so many new buyers and such great deals I thought i would post it just in case New Car Tax Deduction The new car tax deduction helps taxpayers purchasing a new – not used or leased – automobile. The new car sales tax deduction applies to new cars, light trucks, SUVs, motorcycles and motor homes purchased in 2009, and permits taxpayers to deduct the entire amount of sales tax paid on this purchase on their 2009 return. Even taxpayers who don’t normally itemize deductions will qualify. For most taxpayers, the deduction on a $30,000 car, for instance, with 6 percent sales tax, results in about $450 in tax savings. The deduction does not apply, however, to single taxpayers with Adjusted Gross Income exceeding $125,000 (or $250,000 for married people filing jointly.) Additionally, the deduction is limited to tax on the first $49,500 of a new car purchase if the vehicle exceeds that price. Mrzifear | ||
| Dmhines |
I bought a 2009 Jeep Wrangler and the 2009 1125CR so I will be deducting the sales tax from both this year. |
