I really do plan to post about our new car that we bought in February soon-I just keep getting other ideas for blog posts AND I haven't taken a photo of Ram with the car yet either!
We found it was cheaper to buy a new car with the deals than to buy a used car. Ram also read in the April 5 Sunday paper that you can deduct the state and local and excise sales tax off of 2009 returns. You can take this deduction whether or not you itemize deductions. The deduction applies to vehicles manufactured both here and abroad. This deduction is limited for taxes paid on up to $49,500 of the purchase price (no problem, we didn't even pay 1/2 that). Plus the amount of the deduction has to do with your income (again, no problem, Ram doesn't even make close to the limit). The vehicle must be purchased after February 16 and before December 31, 2009. Guess when we bought our car? February 20! Ram's dad also purchased a new car in March. These qualifications may rule out many buyers, but it will help us and be a significant savings.
We are thankful to Ram's parents for helping us to buy a new car. We are also thankful that we bought it at just the right time to take this deduction!
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