Vehicle Tax Deduction …

If you purchased a new car, a light truck, motorcycle, or a motor home after Feb 16, 2009 and before December 31, 2009, save your receipt because you may be able to deduct the state and local sales tax, or excise tax, on the first $49,500 of the purchase price when you file your 2009 tax return.  You do not need to itemize to get it but there are some income restrictions.  Ask you tax advisor if your 2009 new vehicle purchase qualifies.