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So, news has come in confirming that the IRS is going to offer a tax rebate on new cars purchased between now and January 1, 2010. Here are the details:
- You can deduct state and local sales and excise taxes on the purchase of a new car;
- Limited to $49,500 of the purchase price for a new car, “light truck,” or motor home or motorcycle;
- Your modified adjusted gross income must be below $125,000 for individual filers and $250,000 for joint filers; and
- Deductions must be taken on 2009 return.
Via IRS
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{ 3 comments… read them below or add one }
“… tolerable; but not handsome enough to tempt me.”
BAHAHA
The Elizabeth Bennet of tax write-off deals.
I was kind of thinking the same thing–you can write off the taxes, but I would probably buy a used car anyway, so it’s not really a deal.