SALES TAX DEDUCTION AVAILABLE ON NEW CAR PURCHASE!
The governments popular "CARS" or "Cash for
Clunkers" program is now behind us but did you know that there is another
aspect of the governments stimulus program that you may still take advantage
of?
Depending on the vehicle purchased this program could ultimately prove to be as
beneficial to the consumer as the "CARS" program.
IR-2009-30, March 30, 2009
WASHINGTON
- The Internal Revenue Service announced today that taxpayers who buy a new
passenger vehicle this year may be entitled to deduct state and local sales and
excise taxes paid on the purchase on their 2009 tax returns next year.
The vehicle must be purchased after Feb. 16, 2009, and before Jan. 1, 2010,
to qualify for the deduction.
(Due to individual tax
situations we recommend consulting with your tax professional to see how this
deduction applies to you.)
