Buy a new Honda vehicle now and get tax break

The year 2009 has turned out to be a real money saver for car buyers as Cash for Clunkers program and other incentives from dealers provided great opportunity to own a new car at low prices. The year doles out another advantageous offer that enables the car buyers to claim deduction for the sales and excise tax they pay on the new vehicle purchase. The tax deduction enables the taxpayers to buy a new motor vehicle now and get cash back later on their tax returns.

Make the most out of the special tax break opportunities and buy a 2009-2010 Honda model today. The purchase has to be made between February 16, 2009 and January 1, 2010 to qualify for the special tax deduction. Holman Honda, the premier, full-service dealer in Fort Lauderdale, Florida is happy to announce that tax payers of Florida too are eligible for the state tax break. All the new Honda models are qualified for the tax deduction and the prospective buyers can claim the special deduction on their 2009 tax returns. The tax break for the purchase of 2009-2010 Honda vehicles is also available in states that do not have a state sales tax such as Alaska, Delaware, Hawaii, Montana, New Hampshire and Oregon.

The deduction is limited to the fees or taxes paid on up to $49,500 of the purchase price of all qualified new Honda vehicles. The amount of the deduction is phased out for taxpayers whose modified adjusted gross income is between $125,000 and $135,000 for individual filers and between $250,000 and $260,000 for joint filers.