IRS Special Sales Tax Deduction for Car Purchases Available in 2009 2010
Submitted by vinny on Wed, 10/07/2009 - 15:21.
::
Difficulty Level:
1
Purchases made before Jan. 1, 2010, will qualify for this deduction under the American Recovery & Reinvestment Act of 2009 (ARRA).The deduction is limited to the sales and excise taxes and similar fees paid on up to $49,500 of the purchase price of a new vehicle. The Sales tax deduction is reduced for joint filers (Married individuals) with modified adjusted gross incomes (MAGI) between $250,000 and $260,000 and other taxpayers with MAGI between $125,000 and $135,000. Taxpayers with higher incomes do not qualify for this special sales tax deduction in 2009.
The special deduction is available regardless of whether taxpayers itemize deductions on their returns. Taxpayers who do not itemize will add this additional amount to the standard deduction on their 2009 tax return.
Quick Tip:
Special Sales Tax Deduction for Vehicle Purchases Available through End of 2009
Challenges:
sales tax deduction, sales tax deduction for vehicle purchases, sales tax deduction 2009, sales tax deduction 2008, sales tax delaware, sales tax deduction for car buyers, sales tax deduction calculator, sales tax deduction for new car purchase, 2009 sales tax deduction for new car purchase, sales tax deduction on new cars, sales tax deduction federal income tax, sales tax deduction 2009 car, sales tax deduction 2009 new car, car sales tax deduction 2009, new car sales tax deduction 2009, auto sales tax deduction 2009, sales tax deduction table, sales tax deduction table 2009, sales tax deduction table 2010, irs sales tax deduction, irs sales tax deduction 2009, irs sales tax deduction table, federal sales tax deduction, federal sales tax deduction 2009, federal sales tax deduction for new cars, federal sales tax deduction on new cars, 2009 federal sales tax deduction, seven facts about the new sales tax deduction for vehicle purchases, irs sales tax exemption, vehicle sales tax deduction, vehicle sales tax deduction 2009, california car sales tax deduction, new car sales tax deductible, used car sales tax deduction, car sales tax deduction stimulus package, car sales tax delaware, car sales tax deductible, car sales tax deductible 2009
Post new comment