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Archive for the ‘Car Tax Deductions’ Category

Question: Just was rear ended and smushed between 2 cars, car looks totalled. Should I work directly with her insurance?

Or just go through mine. It was 100% her fault, but I don’t know if my premium will go up if I work through my insurance, even though I wasn’t at fault. Also, I will need loaner car and possibly medical care, I just am not sure what to do. I would have to pay a deductible but would most likely get it back. Anyone in the business have some answers for me?

Answer: Is this a 3 car accident??? If so, you definitely need to contact YOUR insurance company. If as you say, I was rear ended and smashed between 2 cars, means you were in the middle and the other insurance company may believe that you are also responsible for the car in front of you;;;;;;;;;;

Your auto policy most likely has medical payment and/or PIP coverage, which means it will pay for any medical care medically necessary due to an accident. Even if proven that the guy behind you is totally at fault, THEY WILL NOT PAY FOR YOUR MEDICAL BILLS, but will reimburse you after you are done treating with a pain/suffering settlement which could be months away from now.

Anything YOUR COMPANY PAYS, including your deductible, YOUR insurance company will go after the at fault party for reimbursement since they will have a “vested interest”.

Call your insurance company and they will explain the procedures and your rights.

good luck

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Credit Scores May be Factored Into Car Insurance Rates, Reports Edmunds.com

Ignoring outstanding bills could raise your car insurance premiums, while paying them off may help you secure a lower rate, reports Edmunds.com, the premier online resource for automotive information.

How to Buy Car Insurance

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Question: For High Mileage Older Cars with low value is it ok to drop your Comprehensive & Collision deductible?

I’m looking over auto insurance quotes and can’t seem to figure out why I should justify a $500.00 deductible on a car that’s valued at $900ish for trade.

Answer: Absolutely. I recommend just carrying liability.

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Rental Car Insurance: Is It Worth the Price?

When vacationers rent cars this summer for their adventures, they’ll have to decide: Do they want the insurance the company is offering. It might be tempting to it pass up the extra fees, but whether or not you should is something you should figure out long before you get to the counter.

Moreno Auto Body & Collision, Car Repair, Car Rental

Question: Is there a $4500 tax credit for buying a 2009 Tahoe before Dec 31,2009?

A salesman called me and said that there was a $4,500 tax credit for buying a new Tahoe ( not hybrid). He said it had to do with the GVW ( gross value weight ) of the vehicle, and the one I was buying qualified for it. I took his word for it and now I can only find credits for Hybrib’s and deductions for excise tax which is only about $1,400.

Answer: the tax credit is “UP TO” $4500 and is only ment to refund the state and local sales tax you payed on the vehicle. Therefore, look at your bill of sale and add the amount marked “state sales tax” and “local sales tax”. The total of these amounts is the amount of your tax credit.

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2010 MB S Class – MB S400 Hybrid qualifies for $1150 tax credit

Question: Tax Deduction?

Ok i deliver pizzas for a living and i herd that i can get Tax Deductions for using my car for the company and the miles i go? Anyone know anythang about that?
1. depending on gas price right now a $1.05

2. Credit card tips are automaticley reported… but not cash tips
***sorry they dont pay per run but everytime i leave the store 1.05

Answer: You can claim 48.5 cents per mile as far as using your vehicle when delivering pizzas (business use). But if the company gave you some money for mileage then you can not take the full 48.5 cents. You will need to complete a 2106 form (employee expenses not reimbursed by employer) and attached it to your 1040. The mileage rate for 2008 is 50.5 cents per mile. Hopefully, you have good records to prove your mileage in case the IRS contacts you. You also need to report the cash tips as well.

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Romney support for individual mandate complicates health care politics

As Mitt Romney prepares for a major address on health care in Ann Arbor, Mich., this afternoon, he is still likely to continue defending what has become a third rail in Republican politics: a requirement from government that people purchase health insurance.

Used Car Donation : Car Donation Tips