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Sales Tax Deduction For New Vehicles

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December 21, 2009  No Comments

What is the credit? Only available for those vehicles purchased from February 17, 2009, through December 31, 2009, the 2009 American Recovery and Reinvestment Act permits taxpayers to take a deduction for state and local sales and excise taxes paid on the purchase of new qualifying vehicles up to the maximum purchase price of $49,500. Full Article

Tax Credits For Energy-Efficient Improvements

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What is the credit? The 2009 American Recovery and Reinvestment Act reinstated Federal tax credits for taxpayers who make certain energy-efficient improvements to their homes. This tax credit applies only to improvements made to a primary residence from January 1, 2009 through December 31, 2010. Under section 25c of the Internal Revenue Code Full Article