New Vehicle Sales and Excise Tax Deduction

We would like to remind our clients, that if you purchased a new vehicle in 2009 you may be entitled to a special tax deduction for the sales and excise tax on the vehicle for up to $49,500 of the purchase price for each vehicle.

To qualify for this deduction the purchase must have occurred between February 16, 2009 and January 1, 2010 and the vehicle must weigh 8,500 pounds or less.

Single filers with modified adjusted gross income of $135,000 or more and joint filers with $260,000 or more, will not qualify.


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