Before you buy a car, you should consider the expenses aside from the actual price of the car. The truth is there are other expenses that are involved upon car purchase which can seriously burn a hole in your pocket. So make sure that you are able to budget for them too aside from the cost of the car. There is the new car sales tax, the car insurance that you have to budget for yearly, car registration, car maintenance and so many others. People say that having a car is like having a new baby in the house. It will cost as much.
However, if you are planning to buy a car in the coming months aside from knowing the expenses that you will incur, you also have to check if there is a new car sales tax deduction that you can qualify for. The amount of the sales tax is deductible to the price of the car that you are buying. Usually, this is only applicable for a specific range of time so you can qualify for it.
So for this year, people who bought cars from February 17 to December 31 are qualified to deduct the sales tax to their car payments. Thus, it is recommended that people know what the schedule is for the year especially during the start of the year so they can plan well in advance. Plus knowing well ahead when the deduction will appear on the tax returns give us the enough time to prepare for it.