The IRS Deductions Blog

Posts Tagged ‘cars’

Items on Amazon Right Now for Sales Tax Deduction 2009 Car:

Green highlights Recovery Act tax cuts for Texans

U.S. Rep. Gene Green encouraged all Texans to take advantage of numerous tax cuts in the Recovery Act.

3 Tesla Motors Workers Dead in Plane Crash – Palo Alto, CA

Question: what can I itemize on my tax return?

I spent over 20,000 in home improvements. Things like a new pellet stove, new floors, new window treatments, paint, new sliding glass doors, new deck, all work was done ourselves. We purchased a new car but not one of the alternate fuel vehicles (2008 ford focus) can I use the tax payed on the car purchase? What else can I use as an itemized deduction? I know for sure I can use my real estate taxes and my mortgage interest, but what about my school taxes? hot water heater? refrigerator? gas (not for work) gas (for work travel out of state)?park pass? sales tax on food, clothing, home cleaners…? and last,if my husband gets a per-Diem in his check can he use his work expenses as write offs (hotel rooms, clothes, gas, food)?

I thank you so so much if any one can help with this.

Answer: You can only claim a insulation deduction (new windows, weather striping, storm doors) up to $1000. You can’t claim the tax on the car you purchased.

I would say you need to talk to an accountant because you don’t want to claim something wrong and the IRS audit you and charge you interest and penalties for stuff done wrong.

Items on Amazon Right Now for Sales Tax Deduction Vehicle Purchases:

Tax Tip — Nine facts about the New Vehicle and Excise Tax Deduction

Here are nine important facts the IRS wants you to know about the new vehicle and excise tax deduction

2010 Tesla Roadster UK-Version

Question: Will auto insurance companies let me make payments for a deductible?

Or is the entire amount due up front immediately?

Thanks!

Answer: You don’t pay your deductible to the insurance company, it is owed to the shop that completed the work on your car. The insurance has already sent the shop what they owe them, you have to pay them the deductible.

You could contact the shop to see if they will work with you on the deductible. It is up to them

Items on Amazon Right Now for Auto Deductible:

“Free Auto Body Repair” Program Approved & Launched by Local Body Shops

Guaranteed “Free Auto Body Repair” Program Finally Approved and Launched. For years consumers have dreamed of No Deductibles or Free Top Quality Auto Body repair From local Body Shops…The time has come. [PR.com]

Prosource Auto Glass Mason NH

Items on Amazon Right Now for Boat Tax Deductible:

Letters to the Editor

In the Dec. 10, 2009 edition of the Berkeley Daily Planet, Berkeley Organizing Congregations for Action (BOCA) submitted a commentary in support of the REALM Charter School proposal which was submitted to the Berkeley School Board on Dec. 16, 2009. In the days leading up to the school board meeting, we were informed that the statistic we had received regarding only ONE African-American male …

Exotic Trading Excursion

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 Sales Tax Deduction For Cars:

Local auto dealers: Tax break that ends today helped drive sales

Today is the last day to buy a new vehicle and deduct sales taxes from your 2009 federal income-tax return. The federal program, local dealers say, has helped boost sales of new cars and trucks at Richmondarea dealerships in the remaining days of the year. “About 80 percent of the people who come in already know about it, but there is no doubt it’s helped,“ said George Mastermaker, general sales …

Tax Break for New Car Purchases and Tax Relief for Hardworking Americans with IRS Problems