Looking to buy

370Zsteve · 11-24-2009, 05:56 AM

Quote:

Originally Posted by perfectnobody

thanks for all the response's and PM's. much appreciated.

question: i noticed Fred Bean is having a Black Friday promo where they will pay your PA sales tax on select vehicles. there doesn't seem to be Nissan's involved and being the i am NJ, the PA sales tax does not apply to me (i think, correct me if i am wrong). what i am trying to find out is, does anyone know of any dealerships in NJ doing the same thing, will pay NJ sales tax, and include 370z's?

highly doubt it, but thought i should ask just the same. let me know if you have info on this.

today, i'll embark on my first dealership visit. it should be fun

You do know that your sales tax will come right off your Federal income tax this year, right?

Oh and please post the deals you find this week in my thread:

End of Model year 2009 - What are current prices?

perfectnobody · 11-24-2009, 06:07 AM

Quote:

Originally Posted by 370Zsteve

You do know that your sales tax will come right off your Federal income tax this year, right?

Oh and please post the deals you find this week in my thread:

http://www.the370z.com/nissan-370z-pricing-ordering-discussions/11499-end-model-year-2009-what-current-prices.html

errr... kindly elaborate big bold

with official proof or links on this

didn't know that, but if so, that'll be freaking sweet (peter griffin style)

370Zsteve · 11-24-2009, 06:09 AM

Quote:

Originally Posted by perfectnobody

errr... kindly elaborate big bold

LOLZ, it's part of the Obama stimulus. All new autos purchased before Dec 31 2009 come right off the top of your taxable income

Dont forget to post the deals you find in my thread, mate!

perfectnobody · 11-24-2009, 06:20 AM

Quote:

Originally Posted by 370Zsteve

LOLZ, it's part of the Obama stimulus. All new autos purchased before Dec 31 2009 come right off the top of your taxable income

Dont forget to post the deals you find in my thread, mate!

really?! that's awesome, where can i read this? so how does that work, i still have to pay it though, but i'll get it back when i do my taxes?! Great! thanks for the info, definitely makes my purchase much more easier as i have been accounting for $3,000 dollars as sales tax (i think, my numbers might be off) which i might get back (assuming your info is correct... i believe you...lol) next year...

will post my visit later, firefox was not able to open that link though, you might want to fix it.

370Zsteve · 11-24-2009, 06:25 AM

Quote:

Originally Posted by perfectnobody

really?! that's awesome, where can i read this? so how does that work, i still have to pay it though, but i'll get it back when i do my taxes?! Great! thanks for the info, definitely makes my purchase much more easier as i have been accounting for $3,000 dollars as sales tax (i think, my numbers might be off) which i might get back (assuming your info is correct... i believe you...lol) next year...

will post my visit later, firefox was not able to open that link though, you might want to fix it.

End of Model year 2009 - What are current prices?

Ya, you have to pay it at sale, then you whack it off the tax return. You can google the subject................

perfectnobody · 11-24-2009, 06:27 AM

Quote:

Originally Posted by 370Zsteve

End of Model year 2009 - What are current prices?

Ya, you have to pay it at sale, then you whack it off the tax return. You can google the subject................

thanks
found this

!!!GREAT NEWS

thanks for that, best news ever since i was not expecting it. this actually makes buying a 2009 model more attractive than buying a 2010 since you may not receive this stimulus in 2011 tax returns...

will keep you posted!

Matt · 11-24-2009, 06:26 AM

Quote:

Originally Posted by perfectnobody

really?! that's awesome, where can i read this? so how does that work, i still have to pay it though, but i'll get it back when i do my taxes?! Great! thanks for the info, definitely makes my purchase much more easier as i have been accounting for $3,000 dollars as sales tax (i think, my numbers might be off) which i might get back (assuming your info is correct... i believe you...lol) next year...

will post my visit later, firefox was not able to open that link though, you might want to fix it.

Let's say you make $100,000 this year. If you pay $5,000 in taxes on the Z, then you'll pay taxes on $95,000 of your income in 2010. It's a write-off or "deduction" not a true credit.

New Car Tax Rebate- Obama Economic Stimulus Plan: Cash Back on 2009 Vehicle Purchase, Not Tax Credit on Federal Return | Suite101.com

370Zsteve · 11-24-2009, 06:28 AM

Quote:

Originally Posted by Matt

Let's say you make $100,000 this year. If you pay $5,000 in taxes on the Z, then you'll pay taxes on $95,000 of your income in 2010. It's a write-off or "deduction" not a true credit.

New Car Tax Rebate- Obama Economic Stimulus Plan: Cash Back on 2009 Vehicle Purchase, Not Tax Credit on Federal Return | Suite101.com

Thanks, Matt.

It's like putting money in an IRA (almost).

Matt · 11-24-2009, 06:30 AM

Quote:

Originally Posted by 370Zsteve

Thanks, Matt.

It's like putting money in an IRA (almost).

Which reminds me. I really have to max mine out before I do my taxes. I forget and then I'm too lazy to amend my return.

perfectnobody · 11-24-2009, 06:33 AM

Quote:

Originally Posted by Matt

Let's say you make $100,000 this year. If you pay $5,000 in taxes on the Z, then you'll pay taxes on $95,000 of your income in 2010. It's a write-off or "deduction" not a true credit.

New Car Tax Rebate- Obama Economic Stimulus Plan: Cash Back on 2009 Vehicle Purchase, Not Tax Credit on Federal Return | Suite101.com

so basically, they take the amount of tax you pay on a "Z" (i think it's about $3,000 for base plus sports... not 100%) and deduct that from your gross income for the year and you are only taxed on the remaining...

so you are not actually getting$3,000 back, just getting taxed less.

still better than i was expecting in the first place, so it's still great!

370Zsteve · 11-24-2009, 06:36 AM

Quote:

Originally Posted by perfectnobody

so basically, they take the amount of tax you pay on a "Z" (i think it's about $3,000 for base plus sports... not 100%) and deduct that from your gross income for the year and you are only taxed on the remaining...

so you are not actually getting$3,000 back, just getting taxed less.

still better than i was expecting in the first place, so it's still great!

Don't forget that you may wind up in a lower tax bracket after the deduction.

Matt · 11-24-2009, 06:38 AM

Quote:

Originally Posted by perfectnobody

so basically, they take the amount of tax you pay on a "Z" (i think it's about $3,000 for base plus sports... not 100%) and deduct that from your gross income for the year and you are only taxed on the remaining...

so you are not actually getting$3,000 back, just getting taxed less.

still better than i was expecting in the first place, so it's still great!

Yep, not a true credit like the new home buyers get, but still not bad! Especially when you add it up with mortgage interest, charities, etc.

Quote:

Don't forget that you may wind up in a lower tax bracket after the deduction.

I'm going to have to look hard at it this year, more than normal. Because of a substantial raise this year, it'll be the first time I'm even close to the next tax bracket. There may be a few lucky charities out there if math is on their side!