Buy a Camaro, get a tax deduct too! - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

odie23 · 03-31-2009, 01:41 PM

Guess it's official, not only do you guys get the coolest car of the year, but it qualifies you to get a tax deduction too!

http://www.autoblog.com/2009/03/31/i...utos-official/

VenomZ302 · 03-31-2009, 01:43 PM

Lot of good it does us in SC... lousy $300 cap...

=P Anything's better than nothing, right?

BowtieGuy · 03-31-2009, 01:45 PM

This is fantastic! Especially since my plans have changed an I can probably get a Camaro before the end of the year.

1_2Many · 03-31-2009, 01:50 PM

This is great news....since I'm pulling money out of my mutual fund I am supposed to pay taxes on that, but this should balance it out.

Zenzi · 03-31-2009, 01:51 PM

What else could we ask for?

Camaro509 · 03-31-2009, 01:54 PM

Quote:

Originally Posted by Zenzi

What else could we ask for?

The first 2,500 pre-ordered Camaro's for free?

soverydeb · 03-31-2009, 01:57 PM

as if....

Tantalizer43 · 03-31-2009, 01:58 PM

That should be about $2,200.00 bucks for me in Ohio!

bestwifeever · 03-31-2009, 02:01 PM

It doesnt say how much is the deduction?

Grape Ape · 03-31-2009, 02:57 PM

Quote:

Originally Posted by bestwifeever

It doesnt say how much is the deduction?

For the Camaro it will be all of the sales tax you pay, unless the dealer really gouges you. It is the sales tax paid on the first $49,500 of the vehicle's price. So MSRP times whatever rate you pay on autos.

Quote:

Originally Posted by Tantalizer43

That should be about $2,200.00 bucks for me in Ohio!

Don't forget this is a deduction, not a credit so you don't get the sales tax refunded by Uncle Sugar, you just get to deduct the sales tax from you taxable income. So your $2,200 becomes at most $616 (single making $78,850-125,000) or $725 (married and make $200,300-250,000).

Note: those income numbers are AGI, so you income would actually need to be a little higher to get the full benefit.

HTWLSS · 04-01-2009, 02:10 AM

We don't pay sales tax in Oregon, so what do we get for infusing $35k into the system?

Vash · 04-01-2009, 03:03 AM

Quote:

Originally Posted by HTWLSS

We don't pay sales tax in Oregon, so what do we get for infusing $35k into the system?

Uh a car and no state tax bill?

Grape Ape · 04-01-2009, 02:48 PM

Quote:

Originally Posted by HTWLSS

We don't pay sales tax in Oregon, so what do we get for infusing $35k into the system?

You could always drive across the river and buy it in Vancouver. WA just raised its sales tax today, you'll get even more back.

Matrix · 04-01-2009, 02:50 PM

Happy for you guys in the US!

03-31-2009, 01:41 PM	#1
odie23 Drives: Jeep Join Date: Jan 2008 Location: Michigan Posts: 123	Buy a Camaro, get a tax deduct too! Guess it's official, not only do you guys get the coolest car of the year, but it qualifies you to get a tax deduction too! http://www.autoblog.com/2009/03/31/i...utos-official/

03-31-2009, 01:43 PM	#2
VenomZ302 Live to Win, Dare to Fail Drives: 2010 Aqua Blue RS/SS M6 Join Date: Nov 2008 Location: Charleston, SC Posts: 1,824 View My Garage	Lot of good it does us in SC... lousy $300 cap... =P Anything's better than nothing, right? __________________ 3/13/09 - Ordered Aqua Blue Metallic 2SS/RS M6! 7/13/09 - Built! 8/11/09 - Delivered! 2G1FT1EW2A9124579

03-31-2009, 01:45 PM	#3
BowtieGuy Enlightened Drives: Nothing Currently Join Date: Jul 2008 Location: Oklahoma Posts: 1,285	This is fantastic! Especially since my plans have changed an I can probably get a Camaro before the end of the year. __________________ If you believe it is your right to speak freely no matter the content, relevance, or intelligence of statement, then it is my duty to the powers that be to set you straight. People have to talk about something just to keep their voice boxes in working order. So they'll have good voice boxes in case there's ever anything really meaningful to say. Kurt Vonnegut

03-31-2009, 01:50 PM	#4
1_2Many Drives: 2008 Suzuki SX4 Join Date: Oct 2008 Location: SoCal Posts: 785 View My Garage	This is great news....since I'm pulling money out of my mutual fund I am supposed to pay taxes on that, but this should balance it out. __________________ We are the early orderers...we are GM's voluntary guinea pigs and their free source of feedback. How will we be thanked?

03-31-2009, 01:58 PM	#8
Tantalizer43 Drives: 2010 Camaro SS/RS Join Date: Aug 2008 Location: Cincinnati OH Posts: 1,359	That should be about $2,200.00 bucks for me in Ohio! __________________

03-31-2009, 01:51 PM	#5
Zenzi Black on Black SS Drives: no car Join Date: Mar 2009 Location: Texas Posts: 14	What else could we ask for?

03-31-2009, 01:57 PM	#7
soverydeb Drives: 2010 2LT Camaro Blk/Blk Join Date: Feb 2009 Location: Wichita Posts: 367	as if....

03-31-2009, 02:01 PM	#9
bestwifeever Drives: 2ss rs Join Date: Mar 2009 Location: colorado Posts: 3	It doesnt say how much is the deduction?

04-01-2009, 02:10 AM	#11
HTWLSS Camaro Disciple Drives: Camaro, Chevelle, Corvette... Join Date: Jan 2007 Location: +45° 23' 30.0588", -122° 48' 7.3296" Posts: 658	We don't pay sales tax in Oregon, so what do we get for infusing $35k into the system? __________________ How the Disciples help Chevrolet and Being a Camaro Disciple http://modernclassicsauto.com '68 Chevelle Malibu Coupe; '67 Chevelle Wagon; '99 Convertible Camaro SS #0069; '07 Z06; '06 Silverado Crew Cab 2500 4x4 dually; '14 Sonic RS Hatchback

04-01-2009, 02:50 PM	#14
Matrix Drives: '10 Camaro 2SS/RS & Magnum R/T Join Date: Oct 2008 Location: BC, Canada Posts: 1,520	Happy for you guys in the US! __________________ SIM Camaro 2010 V8-2SS/RS-A6!!+

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