hey 09 owners don't forget about...
 

just wanted to remind all the the 09 owners about the gov tax credit since it wont be long till taxs will be filed

http://www.soundmoneymatters.com/new-car-tax-credit/

Thanks for the timely reminder.

And, it bears repeating again that this is a tax deduction not a tax credit (yes the article got it wrong). There is a major difference.

Thanks

actually, not just 09 owners but also '10 owners who bought in 09 as well.

Good point ! A NEW vehicle bought during the applicable 2009 period, 2-17-09 thru 12-31-09:

i just wanted to send a reminder out, alot of people dont know about it also

I wish it was a tax credit. That would be sweet.

I'm thinking that this won't provide any additional perk for me, since Texas residents are already allowed to deduct the sales taxes they pay on an automobile purchase on their Federal income taxes.......:confused:

That is true but at least it is a "Super Deduction" meaning you can deduct it even if you don't itemize.

I bought a used 09 in November. Am I still able to take advantage of this or is it strictly new cars?

Sorry, you out of luck. Must be purchase of new vehicle, strictly.

Yes, good point.

Great info, Im wondering if the $4500.00 cash for clunkers is considered income and has to be reported as such?::(

No, it is not.