New bikes are tax free

aps45819

aps45819

24/7 Single Dad
The Federal stimulus package signed into law yesterday is laddened with initiatives designed to help boost our nation’s economy. None of these provisions, however, will affect the die-hard motorcyclist more than the provision, which allows motorcycle buyers to deduct the sales and excise taxes on their 2009 tax return. Yeah, you really just read that. If you buy a motorcycle under $49,500 and subject to certain restrictions, you can take the tax portion of the OTD price and subtract it from your tax statement next April 15th. How much a buyer benefits will depend on the taxes paid and their personal tax situation, but it the case of your typical sportbike, that’s still nearly a grand off your taxes.
Link

Link
 
Larry Gude

Larry Gude

Strung Out
"Hi, I'm from the federal government and I am here to help! See, what we do is this; tax increases are good if the goal is to get money FROM people for the government so we can spend it on other people. However, if the goal is to get people to spend money in the economy directly, we offer tax cuts. Unless you make too much money. If you make too much money, magically, the equation no longer works. See..."
 
dn0121

dn0121

New Member
Wirelessly posted (Mozilla/4.0 (compatible; MSIE 4.01; Windows CE; PPC; 240x320))

are there income restrictions? also aps I need a place to take my honda in to get fixed up. i'll pm you when I get on a pc. I wanted to talk to u at the polar plunge but got there to late.
 
aps45819

aps45819

24/7 Single Dad
dn0121 said:
Wirelessly posted (Mozilla/4.0 (compatible; MSIE 4.01; Windows CE; PPC; 240x320))

are there income restrictions? also aps I need a place to take my honda in to get fixed up. i'll pm you when I get on a pc. I wanted to talk to u at the polar plunge but got there to late.
Click to expand...
I've always been satisified with the work done by Motovations in Charlotte Hall
 
itsbob

itsbob

I bowl overhand
dn0121 said:
Wirelessly posted (Mozilla/4.0 (compatible; MSIE 4.01; Windows CE; PPC; 240x320))

are there income restrictions? also aps I need a place to take my honda in to get fixed up. i'll pm you when I get on a pc. I wanted to talk to u at the polar plunge but got there to late.
Click to expand...

There are always income restricitions..
 
itsbob

itsbob

I bowl overhand
My favorite bike shop in Annapolis moved to the Eastern SHore, just far enough to be considered too far.

Now need another bike shop to find tires on the cheap. I used to use SWmoto tires, but AMS would get me them at the same or cheaper price.. $35 for mount and balance and out the door.

Now I need a new tire supplier.. hopefully I can put enough miles on the bike so I'll need a new set in a couple of months.
 
dn0121

dn0121

New Member
Wirelessly posted (Mozilla/4.0 (compatible; MSIE 4.01; Windows CE; PPC; 240x320))

great thanks ill give them a call once I get the new carb on and figure out how to get it there.
 
desertrat

desertrat

0_0
dn0121 said:
Wirelessly posted (Mozilla/4.0 (compatible; MSIE 4.01; Windows CE; PPC; 240x320))

are there income restrictions? also aps I need a place to take my honda in to get fixed up. i'll pm you when I get on a pc. I wanted to talk to u at the polar plunge but got there to late.
Click to expand...

The taxes deducted only apply up to the portion of a vehicle’s purchase price of $49,500.
– There is an income limitation of $125K for single taxpayers or $250K for couples.

Woo Hooo!
 
desertrat

desertrat

0_0
aps45819 said:
The Federal stimulus package signed into law yesterday is laddened with initiatives designed to help boost our nation’s economy. None of these provisions, however, will affect the die-hard motorcyclist more than the provision, which allows motorcycle buyers to deduct the sales and excise taxes on their 2009 tax return. Yeah, you really just read that. If you buy a motorcycle under $49,500 and subject to certain restrictions, you can take the tax portion of the OTD price and subtract it from your tax statement next April 15th. How much a buyer benefits will depend on the taxes paid and their personal tax situation, but it the case of your typical sportbike, that’s still nearly a grand off your taxes.
Link

Link
Click to expand...


Any motor vehicle. I wondered why the under $49,500 limit. LOL
 
IHDU

IHDU

Does it really matter?
cool, more 2 wheel targets for the crack junkies to hit. Oh, the drunk drivers also
 
Larry Gude

Larry Gude

Strung Out
Bush did this several years back for companies to be able to depreciate 'trucks' 100% the first year; the regulations going down to about 6,000# gvw; thus the Hummer explosion.
 
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