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Tax break available on auto purchases
The "Cash for Clunkers" program for new cars may have ended, but the IRS wants to remind taxpayers about another special federal tax deduction available that can help you save money, in some cases hundreds of dollars, on auto purchases. This tax break will allow people who buy a new vehicle in 2009 to deduct the sales and excise taxes they pay when they file their tax return next year. The tax ded[...]
‘Cash for Clunkers’ and health care
The federal government's "Cash for Clunkers" program ran out of money in a matter of days. The program, which pays people to trade in perfectly serviceable automobiles so the government can turn the cars into scrap, was not expected to reach the costs that it did.
