The USA tax season is, without a doubt, a very smart time of the year for getting a new or pre-owned car. Intelligent car hunters can use a sizable tax return for a down payment or purchase. Check out our income tax season car deals for Kia in the Houston area today.
The Internal Revenue Service allows you to deduct sales tax paid on a purchase of a vehicle on Form 1040, Schedule A. You can’t claim a deduction unless you decide to itemize. You are permitted to deduct this tax whether you do business with an auto dealership or a private party.
Disclaimer. Consult a tax professional before claiming deductions on your tax return.
Yes, you are able to deduct the tax whether charged on a new or used car. Generally speaking, one can only deduct the sales tax that is equal to what was paid when the vehicle was purchased by adding it to the Sales Tax Table for your state, alongside the car registration fees, if your state bases the fee on the value of your vehicle. Those expenses are deductible only if itemized. In the case of sales tax, it is required to be higher than the state income tax that you paid.
If you happened to miss our Kia End of Year or Presidents’ Day Sale Events, don’t worry, another big sale is waiting just around the corner. We feature can’t-miss car sales throughout the tax season. Check out our inventory or incentives to find the Kia deal in Houston you’ve been waiting for. Our expert Kia specialists are ready and waiting to make it even simpler to find the right car at just the right price point.
Houston Income Tax Season Car Deals for Kia | Beck & Masten Kia
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