02-14-2009, 02:34 PM | #1 |
Turbo Engines are Fun
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Stimulus package, you can deduct new car sales tax!
Quoted from the LA Times:
"Similarly, those who buy a new car by the end of the year will be able to deduct the cost of the sales tax." This is a big deal for me. I hope they get that IDrive installed at least by the start of the 2010 year, because I would love to be able to deduct the sales tax on a big purchase like that! |
02-14-2009, 02:40 PM | #2 |
Major General
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oh man, i need to get a car. hope it's true.
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Un4gettable 435i Extended Test drive thread: http://www.f30post.com/forums/showthread.php?t=881491 |
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02-14-2009, 03:13 PM | #4 |
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02-14-2009, 03:19 PM | #5 |
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[QUOTE=LANDLORD;4484068]"Similarly, those who buy a new car by the end of the year will be able to deduct the cost of the sales tax."
This has been available for several years now for those living in states with no state income tax (Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming). |
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02-14-2009, 10:39 PM | #6 |
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Stimulus package keeps Mikulski's car tax break
It is an "above-the-line" deduction, which means it can be taken by anyone who owes federal income tax. The break applies only to the first $49,500 of the vehicle's purchase price. http://www.baltimoresun.com/news/nat...,1583249.story article here suggest it has been scaled back and that only applies to car that are $49k or less. Senator Barbara Mikulski is author of the amendment and here are the relevant details from the official press release "................Cars costing more than $49,500 also are ineligible." http://www.savingtoinvest.com/2009/0...-economic.html |
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