Sales Tax Deduction for Car Purchases Available until End of 2009
With 2010 models arriving in dealer showrooms, the Internal Revenue Service reminds taxpayers that purchasing a new car, light truck, motor home or motorcycle could qualify them for a special deduction for the state and local sales and excise taxes on their 2009 tax returns.
Gambling Winnings and Losses Tax Tips
You may know when to hold ‘em and when to fold ‘em but do you know how and when to report ‘em? Whether you are playing cards or the slots, it is important to know the rules about reporting gambling winnings and losses.
Special Tax Break on New Car Purchases Available in States With No Sales Tax
Under the American Recovery and Reinvestment Act of 2009, taxpayers who buy a new motor vehicle this year are entitled to deduct state or local sales or excise taxes paid on the purchase. The IRS and Treasury have determined that purchases made in states without a sales tax – such as Alaska, Delaware, Hawaii, Montana, New Hampshire and Oregon – can also qualify for the deduction.
Seven Facts about the New Sales Tax Deduction for Vehicle Purchases
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.
Special Tax Break Available for New Car Purchases This Year
The Internal Revenue Service announced yesterday 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.
Seven Things you Should Know When Selling Your Home
People who sell their home may be able to exclude the gain from their income. Here are seven things every homeowner should know if they sold, or plan to sell their house. Amount of exclusion. When you have gain from the sale of your home, you may be able to exclude up to $250,000 of [...]
