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New Vehicle Tax Deduction

Audio: New Vehicle Tax Deduction

The American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and motorcycles through 2009. The deduction is available regardless of whether a taxpayer itemizes deductions on Schedule A. Purchases before Feb. 17, 2009, are not eligible for this special deduction.

The deduction is limited to the tax on up to $49,500 of the purchase price of an eligible motor vehicle. The deduction is phased out for joint filers with modified adjusted gross income between $250,000 and $260,000 and other taxpayers with modified AGI between $125,000 and $135,000.
Recovery.gov
Taxpayers who make qualifying new vehicle purchase this year can estimate their deduction with the help of IRS Publication 919, "How Do I Adjust My Withholding?" Worksheet 10, lines 10a to 10k take into account purchases above the $49,500 limit, as well as the income phase-outs.

News release 2009-30 has more details.

Seven Facts about the New Sales Tax Deduction


(Corrected April 21, 2009)
Taxpayers who buy a new car or several other types of motor vehicles this year may be entitled to a special tax deduction when they file their 2009 federal tax returns next year. The tax break is part of the American Recovery and Reinvestment Act of 2009.

Here are seven things you should know about this new deduction:
  1. State and local sales taxes paid on up to $49,500 of the purchase price of qualifying vehicles are deductible.
  2. Qualified motor vehicles generally include new (not used) cars, light trucks, motor homes and motorcycles.
  3. Purchases must occur after Feb. 16, 2009, and before Jan. 1, 2010.
  4. This deduction can be taken regardless of whether or not you itemize other deductions on your tax return.
  5. Taxpayers will claim this deduction when filing their 2009 federal income tax return next year.
  6. The amount of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers.
  7. The deduction may not be taken on 2008 tax returns.
Consumers who are considering buying a new car may find that this tax incentive means there may have never been a better time to buy.

For more information about the sales and excise tax deduction for motor vehicle purchases visit the official IRS web site at IRS.gov.
 
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 Honda Vehicles at Shop CarlandAcura Vehicles at Shop Carland

Welcome to Shop Carland


Shop Carland operates a couple of different Honda and Acura car dealers in the greater Atlanta, Georgia area.  We have literally hundreds of new and used cars, trucks, vans, and SUVs in our huge inventory.  Visit our Hybird or Cheap Used Car inventory pages.  Shop online for the Honda or Acura vehicle of your dreams, or Build a new Acura or Honda from the ground up.  You can choose the make, model, trim, and finally the MSRP of a vehicle.  Also get a New Vehicle Tax Deduction on your 2009 Income Tax Return when you purchase a new car from Shop Carland.

Acura Carland New and Used Cars


See the line-up of New 2010 and 2009 Acura cars like the: RL, TL, TSX.  Acura also makes a nice selection of SUV’s and Crossover vehicles like the MDX, RDX, and the all new 2010 ZDX.  Browse online the entire inventory of our Duluth Acura Carland Dealership.  Acura is the only manufacturer to get 5-star crash ratings from the IIHS on all their vehicles.  Stop by our Acura Deals page to see many lease and financing specials on new Acura automobiles.  We have many Used Acura vehicles in stock and are an authorized dealer of Certified Pre Owned Acura cars, and SUVs. 

Honda Carland New and Used Cars


Honda is one of the most well respected Auto Manufacturers in the World.  Shop Carland operates 2 Honda Carland Dealerships in the greater Atlanta, Georgia area; Honda Carland in Roswell and Honda Carland North in Cartersville.  See the combined inventory of New 2010 Honda cars like the: Accord, Civic, Fit, Insight Hybrid, and S2000.  The line-up of Honda automobiles extends into the van, SUV, and truck segments.  The vehicles that fall into these categories are the:  CR-V, Element, Odyssey, Pilot, and Ridgeline.  Also see the all new 2010 Accord Crosstour.  There are many Honda Deals going on now so stop by the Specials page.  A Used Honda is a great choice for a pre owned vehicle.  In fact Shop Carland is a Certified Honda dealer.  Each car has to pass a thorough inspection and is accompanied by a used car warranty.

Honda and Acura Parts, Service, and Body Shop


Each dealer in the Carland group operates a Service Center.  We employ factory trained and certified technicians that are professionally trained in Honda and Acura repair.  We can also perform auto repair on almost any kind of car, and you can Schedule a Car Service Appointment Online.  Each dealer has a Parts Department that stocks a various assortment of Honda and Acura OEM Parts and Genuine Accessories.  Visit one of our locations in Duluth, Roswell, Alpharetta, or Cartersville Georgia.  Carland operates a Honda and Acura Body Shop.   The Carland Collision Center can perform major service, collision repair, or can give an insurance estimate.

Shop Carland – Serving Greater Atlanta Georgia


Shop Carland has been serving the Atlanta Georgia area for over 35 years.  Our network of Honda and Acura Dealers, Service Centers, and Body Shops;  have been providing great service to the Automotive community for years.  We proudly serve the Northern Georgia area including Alpharetta, Roswell, Duluth, Cartersville, Atlanta, Marietta, Webb, Crabapple, Newtown, Ocee, Brookwood, Big Creek, Berkeley Lake, Norcross, Mountain Park, Batesville, Buford, Sugar Hill, Suwanee, Lawrenceville, Bethesda, Liburn, Norcross, Dacula, Auburn, Grayson, Crowville, Emerson, Allatoona, Happy Hollow, Rowland Spring, Holly Spring, Atco, Rodgers, Oakland Heights, Corbin, Kingston, Cassville, Grassdale, Aubrey, White, Chamblee, Woodstock, Buford, Snellville, Lithia Springs, Gainesville, Conyers, Morrow, Union City, McDonough, Athens and surrounding Fulton, Gwinett and Bartow cities.  Stop by one of our Carland Locations today.