New Car Sales Tax Deduction Makes It Even More Exciting To Buy A Car

It’s always exciting to buy a new car. The feeling does not diminish even if it is your 3rd time to buy a new vehicle.

In fact, the joy, the excitement and the anticipation gets stronger every time. It gets to be more exciting especially if you were able to time the purchase of the vehicle during the duration where the new car sales tax deduction is made available. For this year, it happened in between the dates: February 17, 2009 to December 31, 2009. So if you were able buy a vehicle within the said dates, you are qualified for a tax deduction. In fact, you can still qualify as it is still ongoing.

It does not mean that with the new car sales tax deduction, you have the right to go overboard with buying a new car. Focus and still try to get the best deal you can possibly have on the car that you want. For sure, there are a lot of good deals right now; you only have to look for them.

Please take note that the new car sales tax deduction is only applicable for new cars and not for used or secondhand cars. If you want to assess the deduction for the new vehicle purchased, you can do that by getting a hold of the IRS Publication 919. Check out lines 10a to10K on Worksheet 10 which takes into account the purchase that is over the $49,500 limit. Claim the deduction by putting it down on your 2009 tax return! Of course, the 2009 income tax return is filed the year after.