good year to buy a new bike

[dn14004]

just incase anyone needs another excuse to buy a new bike the sales tax will be deductable on your 2009 return it was a last minute addition to the stimulus bill there are restrictions that I'm looking into and will add to this post when I get them from my accountant:dancefool:

[StarFan]

Hmmmmmmmmmm,,,,

What day is it today ?

[Freebird]

Actually, I think THIS ONE is true.

[StarFan]

Actually, I think THIS ONE is true.

 

Well Don

Today I actually don´t believe a thing I am told after gotten cheated out of bed this morning at 6:00 hours by a friends SMS.

Polar Bears spotted on the north coast (where my hobby farm is) live coverage on TV. Was standing in the middle of the den on my underwear clicking all the remote controls, trying to find the right TV channel with the live coverage when my wife called from the bedroom saying:

Honey - get back to bed - it was the 31st. of March yesterday and you are a big boy so you should be able to figure out the date today !

[FreezyRider]

just incase anyone needs another excuse to buy a new bike the sales tax will be deductable on your 2009 return it was a last minute addition to the stimulus bill there are restrictions that I'm looking into and will add to this post when I get them from my accountant:dancefool:

 

Actually, that's not as great as it sounds. This is a DEDUCTION, not a CREDIT. To illustrate it's effect on your purchase, assume that you are going to spend $15000 on a new Venture, also assume that you live in the state of Indiana where sales tax is 7%. The tax on that new Venture would come to $1050.00, so you could enter that as a deduction on your taxes next year. Now lets assume that you are in a 25% tax bracket (some will be more, most will probably be less). The amount of your actual savings would be $262.50, not a great fortune considering that you have to spend $15,000 in order to get that $262.50.

When it comes right down to it, I doubt that a savings of $262.50 will be the deciding factor for someone looking to spend $15K.....unless they don't stop to look at the figures.

 

 

Joe

[GeorgeS]

Lots of good deals on cars also, if it anywhere near replacement time !!

[dn14004]

I never said it was going to change anyone's mind but as for me $250 will buy lots of gas and water on the road. It may make you reconsider buying between 2-17-09 and 12-31-09 as opposed to spring 2010 the only other restriction I can find is "itemizers may claim the election if they do not make the election to claim state and local general sales tax in lieu of state and local income taxes". the date has nothing to do with this I read about it in Motorcycle Consumer News [which I highly recamend] I'm sure it can be verified lots of places. As much money as they take from me I'm takin back as much as I can