Automobile Tax Credit
As part of the new stimulus package, there will be incentives for taxpayers that purchase a new qualifying vehicle. This incentive is also referred to as the auto assistance ownership amendment.
This new credit will provide deductions in a number of different ways:
It will provide deductions from both your state and local taxes on taxes paid on the vehicle purchase that was purchased for less than $49,500.00. If the vehicle costs more than this you can still deduct the sales tax on the first $49,500.00 of your purchase
read more at: http://harborfi.typepad.com/tax/got-a-question-turbotax-i.html
This new credit will provide deductions in a number of different ways:
It will provide deductions from both your state and local taxes on taxes paid on the vehicle purchase that was purchased for less than $49,500.00. If the vehicle costs more than this you can still deduct the sales tax on the first $49,500.00 of your purchase
read more at: http://harborfi.typepad.com/tax/got-a-question-turbotax-i.html
| Link: | harborfi.typepad.com...Search for more tips related to this link |
| Rating: | 100% positive, 18 total Votes |
| Categories: | automobile tax credit |
| Added: | on Nov 30, 2009 at 8:39 am |
| Added By: | lieselcaruthers |
| Searches: | tax credit automobile vehicle purchase |
