The IRS Deductions Blog

Archive for the ‘Car Tax Deductions’ Category

Items on Amazon Right Now for Auto Insurance Deductible Definition:

Security And Privacy Requirements To Support Exchange of Health Information

Question: Where do I deduct my auto sales tax when filing?

I purchased a car in 2008 and now that I am filing my taxes online, I can’t find the option to deduct my sales tax. I live in TN. Does anyone know if I can make this deduction and where?
I am itemizing this year. I am using H& R but am not sure where in that process I would enter my sales tax information.

Answer: You may only claim sales tax if you do not deduct state income tax. If you itemize, you would checkout Publication 600 from the IRS to get the amount of sales tax you can claim and then add the sales tax generated by the auto. If the total is more than you paid in state/local income tax, then you should take the sales tax deduction, if not, you would want the income tax deduction.

All this assumes that you itemize your deductions. If you do not itemize, then you can’t claim the sales tax or income tax deduction.

Items on Amazon Right Now for Tax Deduction Auto Sales Tax:

Press Briefing by Press Secretary Robert Gibbs, 7/14/2010

See below for answers to questions(marked with an asterisk) posed in the briefing that required follow up.   *The meeting lasted roughly an hour, and Valerie Jarrett also attended.     **By the day of groundbreaking, Compact Power estimates it will employ 70 in construction jobs.  This will rise to 200 by September and 300 at the peak of construction.  The factory will hire more than 300 full …

Recovery: Vehicle Tax Deduction-Claim It January 2010

Question: How can a 2 person plumbing company possibly clear $250,000 a year?

If Joe the Plumber has an operation that makes $250,000.00 a year in taxable profit, why did I go to medical school? Seems like if after expenses, payrolls, taxes, supplies, vehicles, advertising, rent, utilities, licenses, and all the other deductibles that a small business can claim, that if there is $250K left over, they should pay some taxes. This is not socialism, it is taxation and that runs the country.
So the present system we have of providing health care to the unemployed, via medicaid, food stamps for the indigent… that is socialism too? Come on, we are all in this boat together, and the “bail outs” have to save all of us.

Answer: Actually Joe would only have his taxes raised if he personally earns $250,000 in take home pay. That 2 man business would need to gross in the millions for him to be paid $250,000 a year as an owner. That argument is BS.
If I earned $250,000 I would have no problem in paying more taxes. I would be happy to pay more than a person earning less than me. I can’t understand the rich whining when many of them pay LESS in taxes than I do (and I an in the middle class)!

Items on Amazon Right Now for Deductible Vehicle Expenses:

Oak Grove fire chief resigns

OAK GROVE — The Oak Grove Town Council accepted the resignation of longtime Fire Chief Leon Dale at its Tuesday evening meeting. Mayor Charles Merkel said, “Leon has been wonderful for the town through the years, and we all know that.

victorville ca paintless dent removal auto body shop dent repair wheel repair

Question: Are car smog checks tax deductible in California?

I know that vehicle registration fees are. Do smog checks count too?

Answer: NO !

Items on Amazon Right Now for Car Registration Fee Deductible:

Calendar

Deadline for calendar items is two weeks in advance of desired publication date. E-mail information on clubs, lectures, community and religious events, reunions and support groups to drock@pioneerlocal.com or fax to (847) 599-6902.

Question: does the deductible bill for car insurance get sent to your house right away?

got in a fender bender and it was my fault. We exchanged insurance. There’s going to be a $500 dollar deductible.

Will that bill get sent to my house separate from the insurance bill every 6 months?
Or will it be added onto the insurance bill?

My parents went to india and i can’t afford to pay that bill right away

Answer: The deductible applies to any claim for damage to your car.

If you file a claim under your collision coverage. The insurance company will write an estimate for the repairs. Then they subtract $500 from the amount of the estimate. That is the amount they pay you. Then you take the car to the shop to be fixed. When you pick up the car, you give the shop the money the insurance company paid you for the damage plus you $500 Deductible.

The damage to the other person’s car is paid under the liability coverage. There is no deductible for that.

Items on Amazon Right Now for Deductible Car Insurance:

Pletschet: Tax time good time to think about IRAs, Roths

With all the hullabaloo over the new tax rules regarding the conversion of a traditional Individual Retirement Account to a Roth IRA — with many accountants and advisers against the idea — let’s not forget that next Thursday (April 15) is the deadline for contributing to either type of

Florida Car Accident Attorney | Why You Must Have Uninsured Motorist Insurance