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Sunday, October 25, 2009

Buying a New Car, Truck, or SUV? Do Your Homework to Take Advantage of Tax Credits and Deductions

Did you know that the Federal Stimulus Package included a deduction for sales tax charged on any new car purchase made after February 17, 2009 and before January 1, 2010?
Did you know the Energy Policy Act of 2005 provides a credit for taxpayers who purchase certain energy efficient vehicles, including a tax credit of $2200 on GMC Sierra Hybrid and GMC Yukon Hybrid?

Combining these tax credits, along with year end inventory reduction sales can help you get a fantastic deal on that new car, truck or SUV you've been looking for. Check out the resources below to get a start on your "homework".



Read the Charlotte Observer Article, October 25, 2009: There's still time for auto tax credits and deductions

Check out www.IRS.gov - Qualified Hybrid Vehicles

Call us at 1-866-676-5559 for more information on Hybrid GMC Sierra and Hybrid GMC Yukon. This information is for general information only and is not intended as tax advice. Please consult your tax advisor for details.