Comments on: Cash for Clunkers Tax Rules – The Truth

By: RB @ Financial Samurai

RB @ Financial Samurai — Mon, 07 Sep 2009 00:54:32 +0000

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

marlin — Sun, 30 Aug 2009 13:08:05 +0000

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

Greg — Sun, 30 Aug 2009 02:15:50 +0000

Why in the world would anybody trust anything our government would say?

By: Banking Deals

Banking Deals — Sat, 29 Aug 2009 14:39:47 +0000

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.

By: Jon

Jon — Sat, 29 Aug 2009 03:35:03 +0000

The car dealers are still running ads after the rebate program stopped. The truth is the car dealers would have come off the price of the cars without any rebates. Another government bailout that should have never happened. This reckless spending by the government is what put us in the crisis were in now. The top 10 cars bought and 8 of them are foreign made. China, Japan, Korea, and Mexico and other countries should send a thank you card to Obama for helping their automakers out. ‘Spending someone elses money is a great idea until it runs out”.

By: zeke

zeke — Fri, 28 Aug 2009 20:23:31 +0000

these same folks that took advantage of this deal are the same folks that are in this housing mess. should of thought this program out just a little more.

By: Jodi

Jodi — Fri, 28 Aug 2009 17:45:05 +0000

I can’t believe people are spreading these tax rumors. I guess people will do anything for money. I wonder if there will be commercials with some bimbo claiming that they are Cash for Clunkers Tax Consultants. I really hope not and thanks for letting us know!