New Car Purchases Qualify For A Year End Tax Credit/Deduction

Those who have or will buy new passenger vehicles between Feb. 17 and Dec. 31 of this year may be able to deduct state and local sales and excise taxes paid on up to $49,500 of the purchase price. The deduction applies only to 2009 tax returns and is available regardless of whether a taxpayer itemizes deductions on his or her return, according to the I.R.S. site.

The amount of the new vehicle deduction is phased out for taxpayers whose modified adjusted gross income is $125,000 to $135,000 for individual filers and $250,000 to $260,000 for joint filers.

Elsewhere, legislation passed earlier this year created a special tax credit of up to $2,500 for certain low-speed plug-in electric vehicles and two- or three-wheel vehicles (think the smaller vehicles that resemble golf carts). According to the I.R.S. site, the amount of the credit is 10 percent of the cost of the vehicle, up to $2,500, for a purchase made after Feb. 17, 2009, and before Jan. 1, 2012.

Another credit, of anywhere from $2,500 to $15,000 depending on battery capacity and gross vehicle weight rating, is available for plug-in and hybrid vehicles designed for the highway and bought this year, according to Erik Lammert, a tax researcher at the National Association of Tax Professionals. For vehicles purchased next year, the credit tops out at $7,500.

BDPB Director Ken Strauss Tapes A TV Segment For Broward Kids

BDPB Tax Director, Ken Strauss, once again demonstrates his dedication to Broward County youth.

Ken recently filmed a segment for an episode of the television series Hall Pass, a 10-part series designed to get middle and high school students ready for life. Hall Pass airs on the BECON network, which is owned and operated by the Broward County School board and is viewed all the way from the Florida Keys to Palm Beach County. The series was recently nominated for an EMMY award and has many positive messages for teens.

The episode in which Ken will be featured is set to air in July 2010 and will focus on goal setting and the importance of being organized. Ken was interviewed to provide kids with tips and advice on money management.

If you are interested in viewing Ken's appearance on the show, you can find a full episode schedule at www2.becon.tv/becon-tv-schedules.

Click here to contact Ken Strauss.