Comments on: Cash for Clunkers Tax Rules – The Truth http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/ A personal finance blog where we share insights on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom! Fri, 25 May 2012 06:52:34 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: MoneyNing http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/comment-page-1/#comment-75016 MoneyNing Fri, 09 Mar 2012 04:57:57 +0000 http://moneyning.com/?p=3626#comment-75016 Good job! :) Good job! :)

]]> By: AJ http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/comment-page-1/#comment-75005 AJ Fri, 09 Mar 2012 01:22:12 +0000 http://moneyning.com/?p=3626#comment-75005 Thank you, MoneyNing. No, I don't buy new cars very often. My last truck died at 13 years and the current car is 9 and going strong. Thank you, MoneyNing. No, I don’t buy new cars very often. My last truck died at 13 years and the current car is 9 and going strong.

]]> By: MoneyNing http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/comment-page-1/#comment-75003 MoneyNing Fri, 09 Mar 2012 00:59:27 +0000 http://moneyning.com/?p=3626#comment-75003 The most important part is to have it paid off, so you're fine with 25%. You shouldn't change cars too often though, which is more important than how much you are paying for the vehicle I believe. The most important part is to have it paid off, so you’re fine with 25%. You shouldn’t change cars too often though, which is more important than how much you are paying for the vehicle I believe.

]]> By: AJ http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/comment-page-1/#comment-75002 AJ Fri, 09 Mar 2012 00:38:30 +0000 http://moneyning.com/?p=3626#comment-75002 Thank you, MoneyNing. I had no idea what it meant till now. Opps, I broke this rule just last year. I bought a pick up that was 25% of my income but had a bit to put down on it and just today paid it off before the one year anniversary. Too late now. ;-) Thank you, MoneyNing. I had no idea what it meant till now. Opps, I broke this rule just last year. I bought a pick up that was 25% of my income but had a bit to put down on it and just today paid it off before the one year anniversary. Too late now. ;-)

]]> By: MoneyNing http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/comment-page-1/#comment-74997 MoneyNing Fri, 09 Mar 2012 00:09:39 +0000 http://moneyning.com/?p=3626#comment-74997 His 1/10 rule is that the car people buy should have a sticker price of less than 10% of their annual gross salary, which means people should buy cars worth $5,000 or less if their annual salary is $50,000. His 1/10 rule is that the car people buy should have a sticker price of less than 10% of their annual gross salary, which means people should buy cars worth $5,000 or less if their annual salary is $50,000.

]]> By: AJ http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/comment-page-1/#comment-74965 AJ Thu, 08 Mar 2012 19:13:52 +0000 http://moneyning.com/?p=3626#comment-74965 RB, what's your 1/10th rule? Thank you. RB, what’s your 1/10th rule? Thank you.

]]> By: RB @ Financial Samurai http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/comment-page-1/#comment-19198 RB @ Financial Samurai Mon, 07 Sep 2009 00:54:32 +0000 http://moneyning.com/?p=3626#comment-19198 I'm just so glad the Cash For Clunkers program is done. Cars is the biggest setback for people's personal finances in their 20's. Such a waste of money. Please everyone follow my 1/10th rule. I’m just so glad the Cash For Clunkers program is done.

Cars is the biggest setback for people’s personal finances in their 20′s. Such a waste of money. Please everyone follow my 1/10th rule.

]]> By: marlin http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/comment-page-1/#comment-18846 marlin Sun, 30 Aug 2009 13:08:05 +0000 http://moneyning.com/?p=3626#comment-18846 what it actually says on the govt.cars website is. the use of the term "rebate"in the name NHTSA has chosenfor the program is NOT INTENDEDto have any effect on how CARS transactions are treated understate or federaltax laws.The CARS act provides that the credit is not income to the purchaser, but does not address anyother possible tax issues. you should be a politician your great at telling half truths. what it actually says on the govt.cars website is. the use of the term “rebate”in the name NHTSA has chosenfor the program is NOT INTENDEDto have any effect on how CARS transactions are treated understate or federaltax laws.The CARS act provides that the credit is not income to the purchaser, but does not address anyother possible tax issues.
you should be a politician your great at telling half truths.

]]> By: Greg http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/comment-page-1/#comment-18827 Greg Sun, 30 Aug 2009 02:15:50 +0000 http://moneyning.com/?p=3626#comment-18827 Why in the world would anybody trust anything our government would say? Why in the world would anybody trust anything our government would say?

]]> By: Banking Deals http://moneyning.com/tax/cash-for-clunkers-tax-rules-the-truth/comment-page-1/#comment-18812 Banking Deals Sat, 29 Aug 2009 14:39:47 +0000 http://moneyning.com/?p=3626#comment-18812 I think on the Federal side, you are safe. But I think I've read it somewhere you might be liable for the state income tax, can't be sure. I think on the Federal side, you are safe.

But I think I’ve read it somewhere you might be liable for the state income tax, can’t be sure.

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