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Motorcycle Forums › General Discussion › Bikers' Rights › Those Who Purchase New Motorcycles and Scooters Will Save in

Those Who Purchase New Motorcycles and Scooters Will Save in
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Joined: Mar 13, 2006
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Location: The Internet

PostPosted: Wed 03-18 7:10 pm    Post subject: Those Who Purchase New Motorcycles and Scooters Will Save in Reply with quote

Vehicles eligible for the motorcycle tax deduction added to the American Recovery and Reinvestment Act are likely to include on-road and dual-sport motorcycles, as well as motorscooters and mopeds. The tax deduction -- first reported by the AMA on Feb. 14 -- was added at the eleventh hour to the landmark $787 billion stimulus package that President Barack Obama signed into law on Feb. 17.

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dynamike
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PostPosted: Wed 03-18 7:10 pm    Post subject: Re: Those Who Purchase New Motorcycles and Scooters Will Sav Reply with quote

AWESOME!!! It's about time we were included!!!

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thongs2u
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Joined: Feb 4, 2007
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Location: Franklin, Tennessee

PostPosted: Thu 03-19 6:11 am    Post subject: Re: Those Who Purchase New Motorcycles and Scooters Will Sav Reply with quote

Mike, You are dumber than I thought.... All that would be deductable is the sales tax and excise tax of the bike purchase (from your gross income). Sales tax on anything is deductible today, as long as you itemize. I took over $8K deduction in sales tax on my 2008 1040A). Thats just one more way for the boogie man to juke and jive his way through giving away over a trillion dollars to corporate executives and feeding sugar coated peanuts to the gullible. Get real... your Republican.... Just kidding about the dumber comment, but I do wonder about someone that gets women totally naked, bent over a motorcycle, then just lays on the floor and takes their picture... Shocked

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dynamike
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PostPosted: Fri 03-20 5:34 pm    Post subject: Re: Those Who Purchase New Motorcycles and Scooters Will Sav Reply with quote

Not everyone can itemize, Charlie. If you don't have enough deductions to overcome your standard deduction, then this credit is for you! I imagine that it quite a few of us taxpayers. It's not me, but I'm sure a lot of my friends, as well as a lot of the folks I buying new motorcycles today, would fall into this category.

This credit does not require you itemize, so it comes right off the top! And if you do itemize, can you double dip? That makes it extra cool.

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thongs2u
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PostPosted: Sat 03-21 8:33 am    Post subject: Re: Those Who Purchase New Motorcycles and Scooters Will Sav Reply with quote

Just give me back my 401K and I will shut up.............

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PostPosted: Sat 03-21 1:16 pm    Post subject: Re: Those Who Purchase New Motorcycles and Scooters Will Sav Reply with quote

In time, Charlie. I'm feeling it too bro! I'm fellin' it too Sad

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