Comments on: Tax Cuts in Stimulus Bill Updated http://thefinancebuff.com/tax-cuts-in-stimulus-bill-updated.html like a friend telling you about money ... Fri, 10 Feb 2012 17:31:35 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: TFB http://thefinancebuff.com/tax-cuts-in-stimulus-bill-updated.html#comment-3433 TFB Thu, 11 Feb 2010 03:29:31 +0000 http://thefinancebuff.com/2009/02/tax-cuts-in-stimulus-bill-updated.html#comment-3433 Phil Kaup - Yes, a new motorcycle counts if it was bought within the applicable dates (2/17/2009 - 12/31/2009). Phil Kaup – Yes, a new motorcycle counts if it was bought within the applicable dates (2/17/2009 – 12/31/2009).

]]> By: Phil Kaup http://thefinancebuff.com/tax-cuts-in-stimulus-bill-updated.html#comment-3432 Phil Kaup Thu, 11 Feb 2010 02:35:08 +0000 http://thefinancebuff.com/2009/02/tax-cuts-in-stimulus-bill-updated.html#comment-3432 Does buying a new motorcycle count? Does buying a new motorcycle count?

]]> By: TFB http://thefinancebuff.com/tax-cuts-in-stimulus-bill-updated.html#comment-1883 TFB Sat, 11 Apr 2009 23:44:14 +0000 http://thefinancebuff.com/2009/02/tax-cuts-in-stimulus-bill-updated.html#comment-1883 Tino - No it doesn't apply to leases. Only purchases. Tino – No it doesn’t apply to leases. Only purchases.

]]> By: Tino http://thefinancebuff.com/tax-cuts-in-stimulus-bill-updated.html#comment-1882 Tino Sat, 11 Apr 2009 23:34:13 +0000 http://thefinancebuff.com/2009/02/tax-cuts-in-stimulus-bill-updated.html#comment-1882 Does this apply to new car leases as well or just new car purchases? Does this apply to new car leases as well or just new car purchases?

]]> By: TFB http://thefinancebuff.com/tax-cuts-in-stimulus-bill-updated.html#comment-1583 TFB Tue, 17 Feb 2009 20:02:27 +0000 http://thefinancebuff.com/2009/02/tax-cuts-in-stimulus-bill-updated.html#comment-1583 Chris - I don't see any limitation on the number of cars you buy. The limitations are on - income: $125k single, $250k married filing jointly; phaseout to $135k/$260k; - price: if the car costs more than $49,500, only the first $49,500 counts; - date of first use: must be new car, not used car; - type: weight of car, light truck, or motorcycle cannot be more than 8,500 pounds; no weight limit for motor home; - date of purchase: buy on or after the date the law is signed (expected today, Feb. 17, 2009), through Dec. 31, 2009. Chris – I don’t see any limitation on the number of cars you buy. The limitations are on
- income: $125k single, $250k married filing jointly; phaseout to $135k/$260k;
- price: if the car costs more than $49,500, only the first $49,500 counts;
- date of first use: must be new car, not used car;
- type: weight of car, light truck, or motorcycle cannot be more than 8,500 pounds; no weight limit for motor home;
- date of purchase: buy on or after the date the law is signed (expected today, Feb. 17, 2009), through Dec. 31, 2009.

]]> By: Chris http://thefinancebuff.com/tax-cuts-in-stimulus-bill-updated.html#comment-1582 Chris Tue, 17 Feb 2009 19:21:35 +0000 http://thefinancebuff.com/2009/02/tax-cuts-in-stimulus-bill-updated.html#comment-1582 Any tax rules on buying more than one car? Any tax rules on buying more than one car?

]]> By: Richard http://thefinancebuff.com/tax-cuts-in-stimulus-bill-updated.html#comment-1554 Richard Sat, 14 Feb 2009 15:05:32 +0000 http://thefinancebuff.com/2009/02/tax-cuts-in-stimulus-bill-updated.html#comment-1554 They most certainly do charge sales tax on cars in NC. It exactly the same as Virginia.Registration is $30 -$33 a year. Richard. Raleigh,NC They most certainly do charge sales tax on cars in NC. It exactly the same as Virginia.Registration is $30 -$33 a year.
Richard. Raleigh,NC

]]> By: Matt http://thefinancebuff.com/tax-cuts-in-stimulus-bill-updated.html#comment-1552 Matt Sat, 14 Feb 2009 13:15:51 +0000 http://thefinancebuff.com/2009/02/tax-cuts-in-stimulus-bill-updated.html#comment-1552 This is a great post, thanks. My fiancee and I live in North Carolina where they charge no sales tax on cars, but instead impose hefty govt. fees on registration and such. I had always assumed they did this to try and attract buyers from other states. This really sucks because we won't get any benefit from the sales tax writeoff, and we'll STILL have to pay the ridiculous fees for a new car, which I'm going to go out on a limb and say are not going to be tax deductible. I suppose we will just stick to the used car market. Screw you NC. This is a great post, thanks. My fiancee and I live in North Carolina where they charge no sales tax on cars, but instead impose hefty govt. fees on registration and such. I had always assumed they did this to try and attract buyers from other states. This really sucks because we won’t get any benefit from the sales tax writeoff, and we’ll STILL have to pay the ridiculous fees for a new car, which I’m going to go out on a limb and say are not going to be tax deductible.

I suppose we will just stick to the used car market. Screw you NC.

]]> By: Manshu http://thefinancebuff.com/tax-cuts-in-stimulus-bill-updated.html#comment-1543 Manshu Fri, 13 Feb 2009 12:45:31 +0000 http://thefinancebuff.com/2009/02/tax-cuts-in-stimulus-bill-updated.html#comment-1543 Was looking for this info...thanks for posting it in a concise manner. Was looking for this info…thanks for posting it in a concise manner.

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