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New Vehicle Tax Deduction

Audio: New Vehicle Tax Deduction

The American Recovery and Reinvestment Act of 2009 provides a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and motorcycles through 2009. The deduction is available regardless of whether a taxpayer itemizes deductions on Schedule A. Purchases before Feb. 17, 2009, are not eligible for this special deduction.

The deduction is limited to the tax on up to $49,500 of the purchase price of an eligible motor vehicle. The deduction is phased out for joint filers with modified adjusted gross income between $250,000 and $260,000 and other taxpayers with modified AGI between $125,000 and $135,000.
 Recovery.gov
Taxpayers who make qualifying new vehicle purchase this year can estimate their deduction with the help of IRS Publication 919, "How Do I Adjust My Withholding?" Worksheet 10, lines 10a to 10k take into account purchases above the $49,500 limit, as well as the income phase-outs.

News release 2009-30 has more details.

Seven Facts about the New Sales Tax Deduction


(Corrected April 21, 2009)
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.

Here are seven things you should know about this new deduction:
  1. State and local sales taxes paid on up to $49,500 of the purchase price of qualifying vehicles are deductible.
  2. Qualified motor vehicles generally include new (not used) cars, light trucks, motor homes and motorcycles.
  3. Purchases must occur after Feb. 16, 2009, and before Jan. 1, 2010.
  4. This deduction can be taken regardless of whether or not you itemize other deductions on your tax return.
  5. Taxpayers will claim this deduction when filing their 2009 federal income tax return next year.
  6. The amount of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers.
  7. The deduction may not be taken on 2008 tax returns.
Consumers who are considering buying a new car may find that this tax incentive means there may have never been a better time to buy.

For more information about the sales and excise tax deduction for motor vehicle purchases visit the official IRS web site at IRS.gov.
 
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Honda Carland North
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Honda Carland North Carterville, Georgia-Honda Dealership

Honda Carland North offers competitive pricing on new Honda cars, hybrids, and SUVs as well as savings on used Honda vehicles. Our Honda dealership is located in Cartersville Georgia and caters to residents of the Northern Georgia including Acworth and Kennesaw. We have a huge selection of New 2010 Honda Accord Coupes, Accord Sedans, Civic Coupes, Civic Sedans and plenty of Hybrids including the Insight and Civic.  We also have 2009 Model Year vehicles for sale.  If you are looking for a practical vehicle with ample storage and flexibility come see the 2010 Honda SUV and Truck lineup including the CR-V, Fit, Element, Pilot, Crosstour, Odyssey and Ridgeline. To explore the vast array of trim levels and Honda features use the Build Your Honda feature to build a Honda from the ground up and to get the MSRP price of a new Honda vehicle. To ensure that you get the very best price on your next Honda see our monthly Internet Specials on Honda cars, Honda SUVs, Honda Hybrids, Honda Coupes, Honda Sedans, Honda Vans and Honda Trucks. 

New and Used Honda Cars for Sale Near Atlanta

Honda vehicles are built to last and retain their value longer than most competitors. Our lot is fully stocked with Certified Used Honda Cars including Certified Pre-Owned Honda Accords, Certified Honda Civics and certified Honda Hybrid cars. The Honda Certified  Pre-Owned Program requires that every certified vehicle undergo an extensive 150-point mechanical inspection. Certified vehicles are inspected from top to bottom and come with a comprehensive used-car warranty so you are guaranteed a quality vehicle at a Honda clearance price. Honda Carland North has used cars and trucks to fit any budget. Check out the Vehicles Under 15K featured on this website to find cheap Honda automobiles and great deals on other used cars, trucks, and vans as well. Browse our Pre-Owned Inventory list to see what’s on our lot today or if you live in Cartersville or the greater Atlanta Georgia area come by and test drive a used Honda and take advantage of some great Honda deals. 

Honda Dealer | Service, Parts, Repairs & Body Shop in Cartersville, GA

Keeping your Honda running and looking like new is the number one priority for the Honda Carland North Service Center and Honda Collision Center. The factory trained A.S.E. Certified technicians in our service center use genuine Honda Parts, Honda Accessories and state-of-the-art technology for accurate maintenance and Honda Repair. We stock a huge selection of OEM Honda Parts and Accessories for the Acccors, Civic, Crosstour, CRV, Element, Fit, Insight, Odyssey, Pilot and Ridgeline.  Even if you own an out-of-production Honda Automobile like the: S2000, CRX, Del Sol, Passport, or Prelude; we can order the parts direct from the fFor your convenience, you can Schedule Service Appointments and see Special offers and Service Discounts online. In the event of an accident, our Carland Collision Center in Alpharetta, Georgia offers free estimates and insurance quotes. If you live in Cartersville, Marietta, Rome, Woodstock, Alpharetta, Roswell or the surrounding greater Atlanta area there is a Honda Carland Service area near you.

Honda Dealer Financing, Lease Deals and Special Offers

Once you have selected that perfect new or used Honda automobile it’s important to know about Honda financing, incentives, rebates and lease deals. Use the Specials menu of this website to see the latest special offers, lease deals, and factory finance incentives on 2010 automobiles:  Accord, Civic, Crosstour, CR-V, Element, Fit, Insight, Odyssey, Pilot, and Ridgeline as well as current Used Car Specials. Through our online inventory pages you can request a quick quote, estimate your trade-in value or Monthly Payments and fill out a Finance Application. If you have any questions or want to learn more about Honda financing or Honda lease deals contact our specialists in the Honda Finance Center. They will help you save money, and will assist you through the duration of your lease. The Honda Carland Lease-End Assistance Center is also available to make sure that you understand your options as you near the end of your lease agreement.

Honda Dealership Serving Cartersville, Acworth, Kennesaw, and Greater Atlanta Area

Honda Carland North is located at 595 East Main Street, Cartersville, GA 30121 and is proud to be a Honda Dealership Atlanta area residents rely on for great prices and service. Our customers come from all over Northern Georgia including the communities of Acworth, Kennesaw, Emerson, Laffingal, Victoria, Lake Pointe, Walker Hills, Aubrey, and surrounding areas of Roswell, Woodstock, Holly Springs, Canton, Rockmart, Five Forks, Oakland Heights, Simpson Crossroads, Marietta, Athens, Lithia Springs, Union City, and Gainesville. See our Hours and Directions page for a map and driving instructions. Our sister dealerships are Honda Carland in Roswell, Georgia and Acura Carland in Duluth, Georgia. For more information about the Carland family visit the Carland Group website. 


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