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There is no "tax deduction on a new truck." If you use the truck for business, you may be able to deduct part of the cost as a business expense. This is complicated enough that you should probably talk to a CPA or Enrolled Agent (somebody who prepares taxes for a living).
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Can I receive a tax deduction if I donate my truck?
Yes, you may receive up to $500 tax deduction if you donate your truck.
If I donate my used pickup truck to a school, church or a charity can I use it for a tax deduction?
You can deduct the appraised value of the vehicle from your federal tax liability.
Do you have to itemize on your tax return to claim the sales tax on my new pickup?
If the truck weighs no more than 8500 pounds and it is purchased between 2/17/09 and 12/31/09, you may claim a deduction on your 2009 return when it is filed in early 2010 without itemizing. Otherwise, you would have to itemize and not claim the state income tax deduction.
Is a rainbow vacuum a medical tax deduction?
No, a rainbow vacuum is not a medical tax deduction.
What is New York State withholding tax?
What is the deduction SWI on my pay stub
What is the difference between a Tax Deduction and a Tax Credit?
According to Yahoo Finance, "a credit reduces the amount of tax you owe; a deduction reduces the income on which taxes are assessed." See related links for more information on new tax credits for 2010.
Java code for tax deduction in database connection?
Java code for tax deduction in database connection?
Is there a medicare tax deduction?
No
Are cats a tax deduction?
Pets are not tax deductions.
Are settlement charges to borrower a tax deduction?
On settlement statement from HUD there is a settlement charge. Is this entire charge a tax deduction?
Can I get a tax deduction for my roth IRA?
There is no Roth IRA tax deduction, but this does not mean that the Roth IRA does not have tax implications. More information can be found by asking an accountant.
What is a pre tax deduction?
A deduction taken out of payroll for something, reducing the income tax is applied to. Hence you get to pay that item with "pre tax" money...which is cheaper than after tax money.
