| New Motorcycle in 2009? Do Not Forget Your Tax Break |
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| Written by George Tait | |||
| Wednesday, 17 February 2010 00:00 | |||
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Taxpayers who purchased a new car, motorcycle, light truck or mobile home on or after February 17, 2009, and before January 1, 2010, can deduct sales taxes for the first $49,500 of the purchase price. You don't need to itemize to claim this deduction.You can claim the sales-tax deduction even if you participated in the federal "cash-for-clunkers" program, says Amy McAnarney, executive director of H&R Block's Tax Institute.
The AMA (American Motorcyclist Association) has a good review of the law regarding this tax deduction. In speaking with my accountant the deduction is legitimate and welcome. If you are having your taxes done by someone else or you are doing them yourself do not forget this deduction!
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