Archive for the ‘Car Tax Deductions’ Category
Tax Deduction For New Car Purchase
October 6th, 2010
Question: Does my car purchase qualify for Obama’s stimulus (deduction of sales tax?)?
While buying a new car this weekend, I found out I can deduct the sales tax on my 09 taxes. This past June I bought my wife a new car. Arizona only charged me $260 in sales tax (diff between trade in and new) but now that its being registered in California the DMV wants to collect $2800 in sales tax.
All I have read only states it must be a new car purchase. If I do qualify I will pay the taxes before the 31st. Otherwise I will hold wait a bit longer.
Answer: Your sale documents will reflect that the vehicle was purchased in Arizona which will limit your deduction to what was paid/collected to AZ. As for the taxes that CA will be charging you for registering the vehicle in CA, you will only be able to claim those taxes if you are itemizing your deductions for the year and the CA taxes were paid during 2009. Deductions can only be claimed for the year in which the fees were actually paid.
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NEW CAR TAX BREAKS
Auto Taxes Deduction
October 5th, 2010
Question: tax rebate question?
i worked full time this year and obviously payed my fair share of taxes. but because my parents claimed me i don’t qualify for the tax rebate???
this year, if i decide to claim independence what will change? i am a student. if i claim independence will i have to get my own insurance (auto/health)?
will there be more positives or negatives if i claim independence? it seems i have been missing out on a lot… Tax Deductions such as school, work items, this tax rebate…
is it a better idea to remain dependent under my parents and let them get all the cuts or change it and let me get what is mine?
Answer: HA HA!!!
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Economy Pitch Mainly A Blame Game For Both Parties
If You Don’t Like The Economy, Blame President Barack Obama And Democrats Because They’re Making Times Tougher, Republicans Are Telling Voters Entering The Four-week Homestretch… Washington, – If you don’t like the economy, blame President Barack Obama and Democrats because they’re making times tougher, Republicans are telling voters entering the four-week homestretch to an election the GOP …
Tax Forms & Deductions : Can You Claim Your Car Insurance on Your Taxes?
Higher Deductible Car Insurance
September 6th, 2010
Question: Return of Insurance Deductible. I live in Massachusetts. Was involved in car accident.?
My own insur. co. concluded that I was at fault and surcharged me. I appealed the surcharge and was found NOT TO HAVE BEEN MORE THAN 50% at fault for the accident. My insur. co. reversed the surchargable points that was initially assessed against me but refuses to refund my $500 Deductible, claiming that they believe I was at fault for the accident (despite the surcharge board of appeals–a higher authority—finding the opposite). So here is my question– How can my own insur. co. keep my $500 deductible (that should be assessed against me IF I AM FOUND TO BE AT FAULT FOR AN ACCIDENT—when I was found NOT TO BE AT FAULT BY THE SURCHARGE BOARD OF APPEALS—-My understanding is I must pay my deductible when I AM AT FAULT!—-What good is it to exercise my right of appeal if my own insur. co. can ignore the finding of the appeals board? Please refer to a statute and/or reg. if you can when answering this question. I repeat, I WAS FOUND NOT TO BE AT FAULT.
Answer: Read your policy. Your deductible applies regardless of fault.
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Dallas-area homeowners insurance rates vary widely, analysis finds
A new comparison of rates in the area by The Dallas Morning News found that the five largest companies don’t necessarily offer the best prices, despite their dominance of the market.Links: |
Car Insurance : How to Calculate a Deductible for Car Insurance
Posted in Car Tax Deductions | 
Tags: car insurance, higher deductible car insurance, insurance | 
No Comments »Deductible Auto Insurance
August 13th, 2010
Question: Can I claim my auto insurance deductible on my taxes?
I was in a car accident earlier this year. They hit me and then took off so I had to pay my deductible out of pocket. Can I claim that on my taxes?
Answer: You may be able to claim the loss on your taxes. It will depend on your total income, and the amount of the deductible. You can only claim a casualty loss if the amount of the loss exceeds a certain percentage of your income.
Consult a tax adviser for details!
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Libby High School vandalized again
Canda Harbaugh/The Western News Extensive damage to student lab computers at the high school was discovered Monday.
Auto Insurance Deductibles