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In other words, in those states, you’ll only pay sales tax on the difference in price between the vehicle you trade in and the vehicle you purchase. For example, imagine your new car costs $35,000 and the dealer gives you $20,000 for your trade-in. This means you’d only be paying sales tax on $15,000.
If you’re set on getting a used plug-in hybrid SUV, this is your best shot at getting one below the $25,000 tax credit limit. Weak acceleration and a low-buck cabin are drawbacks, however. 2018 ...
Understanding federal tax credits is not an easy feat, especially when it comes to ever-evolving laws around tax credits for electric cars. If you bought an EV (or are thinking of buying one) in ...
According to a recent Edmunds used vehicle report, demand for used cars is dropping and so are their values as the new-car market rebounds from pandemic-induced shortages. This is especially true ...
The Cars We Love to Hate, Eric Peters said that the Yugo was "less reliable than the exchange rate of an African 'people's republic' or a Halliburton financial disclosure", that it "[taught] folks the hard way about getting what you pay for" and that "The Yugo will likely hold in perpetual ignominy the title of 'Worst Car Ever Sold to the ...
Donors of gifts in excess of the annual exclusion must file gift tax returns on IRS Form 709 [100] and pay the tax. Executors of estates with a gross value in excess of the unified credit must file an estate tax return on IRS Form 706 [101] and pay the tax from the estate. Returns are required if the gifts or gross estate exceed the exclusions.
Two-thirds of Americans feel they pay "too much" in federal income taxes, and many say they see little value in return, according to a new poll from the University of Chicago Harris School of ...
Another example of fiscal illusion can be seen in local property tax politics. Here renters, who do not pay local property taxes directly, may vote for an expansion of local government services. Fiscal illusion theory suggests they support this policy because its cost is masked by its roundabout nature (through an increase in their rent payments).