# New Tax Deductions



## Not Yet (Dec 13, 2004)

Hello All,

Please forgive if this has been takled about. I did not do a search








This years tax laws allow individuals to decide between paying income tax or sales tax. Now for those that do not pay an income tax it is a no brainer. Deductions include cars and RVs so for those that bought both break out the paperwork. Generally if you itemize you can deduct an exact amount as shown with reciepts, but for those of us that do not keep every single piece of paperwork, there are tables available. This link should help to answer some questions. http://www.irs.gov/pub/irs-pdf/p600.pdf
No matter what it is a good thing to talk to your tax person about. I am not a tax guy, nor do I play one ot TV, I did not even speel in a Holiday Inn Express last night. So do your own DD.

Not Yet (but the tax break is still good in 05)
Jared


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## dougdogs (Jul 31, 2004)

depending on how/if you finance, interest can also be deducted on an RV as a second home. (similar to a second mortgage)

I bought an F150 early this year, then traded it in on a GMC Sierra a few months ago. I am looking into the sales tax option this year.


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