Friday, March 13, 2009
How Does the Stimulus Bill's Sales Tax Deduction for Motorcycle Purchases Work?
You have probably heard about the tax deduction for buying a new motorcycle that was included in the recent 2009 stimulus plan. How exactly does it work?
The stimulus bill, officially called "The American Recovery and Reinvestment Act of 2009", provides a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and motorcycles through 2009.
CycleTrader.com examines the rules of how the deduction works and a link to the IRS website for more information.