Jim Ellis Audi of Marietta's automotive expertise is a product of our sustained interest in industry trends and characteristics. We are privileged to share the latest news, promotions and events with you and hope the information will enhance your shopping experience. As you know, there are many new cars from which to choose, and we believe an informed customer is the best customer.
Yesterday in
Denver, Colorado, President Barack Obama signed the American Reinvestment and
Recovery Act of 2009.
One of the
highlights of the bill is that it provides all taxpayers with a deduction for
State and local sales and excise taxes paid on the purchase of new cars and
light trucks through 2009. This deduction is subject to a phase-out for
taxpayers with adjusted gross income in excess of $135,000 ($260,000 in the
case of a joint return). We believe this temporary economic boost is vital to
getting customers back into the showroom and spur sales.
What the
Legislation Does
Makes sales/excise
car tax deductible on new car and light truck purchases, although it limits the
deduction to the tax on up to $49,500 of the purchase price of a qualified motor
vehicle.
The deductibility is
allowed for new car purchases beginning Feb. 17, 2009 (date of enactment) and
before January 1, 2010.
Who would
qualify for this tax deduction?
The deduction is
phased out for taxpayers with modified adjusted gross income between $125,000
and $135,000 ($250,000 and $260,000 in the case of a joint return).
The deduction is
"above-the-line" - meaning it can be taken advantage of by itemizers and
non-itemizers.
If you are
interested in learning more about H.R. 1, please visit the new White House
Website on The Stimulus Package -- http://www.recovery.gov/
Sincerely,
Johan
de Nysschen
President
Audi
of America, Inc.
Yesterday (Feb 17, 2009) in
Denver, Colorado, President Barack Obama signed the American Reinvestment and
Recovery Act of 2009.
One of the
highlights of the bill is that it provides all taxpayers with a deduction for
State and local sales and excise taxes paid on the purchase of new cars and
light trucks through 2009. This deduction is subject to a phase-out for
taxpayers with adjusted gross income in excess of $135,000 ($260,000 in the
case of a joint return). We believe this temporary economic boost is vital to
getting customers back into the showroom and spur sales.
What the
Legislation Does
Makes sales/excise
car tax deductible on new car and light truck purchases, although it limits the
deduction to the tax on up to $49,500 of the purchase price of a qualified motor
vehicle.
The deductibility is
allowed for new car purchases beginning Feb. 17, 2009 (date of enactment) and
before January 1, 2010.
Who would
qualify for this tax deduction?
The deduction is
phased out for taxpayers with modified adjusted gross income between $125,000
and $135,000 ($250,000 and $260,000 in the case of a joint return).
The deduction is
"above-the-line" - meaning it can be taken advantage of by itemizers and
non-itemizers.
If you are interested in learning more about H.R. 1, please visit the new White House Website on The Stimulus Package -- http://www.recovery.gov/
Sincerely
Johan de Nysschen
President
Audi of America, Inc
By source: Audi AG
Feb 16, 2009, 21:04
|
• Number of
newly registered Audi models overtakes that of premium competitors |