There is a special tax break available for new car purchases in 2009 - if you are thinking of buying one, you will want to check into this.
Taxpayers are receiving a temporary tax incentive that will be available to them for the purchase of a new car, light truck, motor home or motorcycle during 2009. The deduction will be available for the cost of all state and local sales and excise taxes paid on up to $49,500 of the purchase price. The amount
of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers (this probably eliminates most real estate agents - right?) and between $250,000 and $260,000 for joint filers. The vehicle must be purchased after February 16, 2009, and before January 1, 2010, to qualify for the deduction. The special deduction is available regardless of whether a taxpayer itemizes deductions on their return. The deduction may not be taken on your 2008 tax returns.
var addthis_pub = 'klordbock';
var gaJsHost = (("https:" == document.location.protocol) ? "https://ssl." : "http://www.");
document.write(unescape("%3Cscript src='" + gaJsHost + "google-analytics.com/ga.js' type='text/javascript'%3E%3C/script%3E"));
try {
var pageTracker = _gat._getTracker("UA-11076157-1");
pageTracker._trackPageview();
} catch(err) {}
Comments(20)