Are Your Salespeople Using the Tax Write-Off as a Closing Tool?
June 18, 2009
The government will allow anyone buying a NEW car between Feb 2009 and Dec 31 2009 a one-time, ABOVE THE LINE, Tax Write Off (means you can write it off even if you do not itemize) on the sales tax. This is for any NEW vehicle purchase of up to $49,500. So, at 7% NJ sales tax at $49,500, a NJ resident could write off up to $3,465.00.
One caveat: Household Income must be below $250,000.
Advertisement
