Home : Blogs : John Walters : Homes For Sale Slidell,Lacombe,Pearl River Louisiana Real Estate>>Real Estate Professional

Seems Cash for Clukers has a Catch

I watched the Sean Hannity show last night for about ten minutes. In this one segment it seems the $4500 rebate the buyers are receiving is taxable. This amount (4500) is counted as regular income. I wonder how many of these knew this. Now not only do most have a car note now, they most likely have a tax liability they weren't counting on. I think a better name would have been cash for suckers.

Posted by John Walters on 08/28/2009 12:30 PM

Comments (4)

magnolia forest la homes for sale, pearl river louisiana homes for sale, eagle point slidell louisiana homes for sale

Originally posted at: Homes For Sale Slidell Louisiana: Seems Cash for Clukers has a Catch

This post has been included in Louisiana Information Saint Tammany Parish, LA Information Pearl River, LA Information

4 Comments on Seems Cash for Clukers has a Catch

AUG

Hi John, Well, it seems that the "good" news just keeps coming in all the time, doesn't it? -lol. I agree, most of the people that traded in their clunkers were most likely not aware of the tax liability.

Ah of course there was a catch. I feel bad for those unaware. And for the dealers who I read apparently are experiencing problems with this program.

Best,

Michael

ToulaRosebrock,com

Hi John:

I didn't know that....that's the first that I heard it's taxable.

Well, I didn't take advantage of that program anyway....

SEP

lets hope they don't try this on the $8000 tax credit. But, like most government programs the devil is in the details.

Todd Clark - www.LivingBeaverton.com

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?