Posts tagged as:

cars

Fix the Tax Code Friday: Extending Tax Programs

18 September 2009

It’s Fix the Tax Code Friday! Buoyed by the popularity of the Cash for Clunkers program – and the perceived success of the First Time Homebuyer’s Credit – Congress is considering whether to extend both programs in 2010. Various bills suggest extending the homebuyer’s credit from six months to a year – and even increasing [...]

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Ask the taxgirl: Tax Consequences of CARS

29 August 2009

Taxpayer asks: I heard on the radio that we will have to pay taxes on the money from the Cars for Clunkers. If so, I am really mad because nobody said we had to pay taxes on it. Is this true? Taxgirl says: A number of web sites and um, what’s the word, liars opportunists [...]

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Ask the taxgirl: CARS and Back Taxes

11 August 2009

Taxpayer asks: Hi, I heard a car dealer on a radio talk show say that if the consumer owes any federal or state taxes when they buy a C4C car, the dealer is on the hook to get reimbursed by the consumer or eat the difference, because the federal payment will take out the arrearrage [...]

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Ask the taxgirl: New cars, tax deductions and losses

23 June 2009

Taxpayer asks: Earlier this year, I agreed to co-sign on a loan for my adult son for a new car so that he could get to work. He made the first payment and has not made payments since. I have made all of the other payments. I have 2 questions: Since I really bought the [...]

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It’s Definitely Not a Lada: Imported Cars in Russia Are Taxed

22 December 2008

It’s not just the American automotive industry that is facing difficulties these days: the Russian automotive industry is struggling, too. I know, I know. You’re thinking “the Russians have an automotive industry?” It’s no Big 3 (which is perhaps a good thing lately) but it exists. Just barely. To protect the industry, the Russian government [...]

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Why Isn’t taxgirl at the movies?

22 August 2008

Yeah, I wanna know, too. My best laid plans have gone awry – this has been one of the busiest summers that I can remember (that’s supposed to be a good thing, right?). I haven’t had a second to go to the movies. And since no one has inquired about Pixar’s “Cars”, the only movie [...]

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IRS Car Charity Rules Drives Donations Down

14 July 2008

I’m sure that you’ve seen a number of signs and ads that encourage you to donate your vehicle to charity. In our area, they’re plastered all over the place… Do they actually work? Not so much anymore. In 2004, Congress changed the rules regarding car donations for charity. The rules more or less limited the [...]

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Go Green or Pay Green

11 November 2007

The UK is pushing ahead with its plans for a greener country. Recommendations for a greener policy include an increase for drivers who opt for larger cars of up to £1,000 under a plan to force people to switch to greener vehicles. The Times is reporting that drivers who choose high-emission vehicles will face much [...]

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