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Discussion Starter #1
Motorcyclists benefit from historic economic stimulus bill
PICKERINGTON, Ohio -- Language that provides a tax credit for the purchase of a motorcycle has been added to the current economic stimulus bill, the American Motorcyclist Association (AMA) reports. The AMA, working in conjunction with other stakeholders, worked diligently to secure the motorcycle provision within the measure. President Obama is expected to sign the bill into law shortly.
"This inclusive and equitable solution will provide much-needed relief to riders, as well as to those who sell motorcycles," said AMA Vice President for Government Relations Ed Moreland. "When it appeared that motorcycles were going to be overlooked in this bill, the AMA and the Association's members, along with Harley-Davidson and others, took our case straight to Capitol Hill and persuaded lawmakers that this was the right decision."
Moreland added that motorcycle riders are just as likely to have been hit hard by the economic downturn as those who buy automobiles and light-duty trucks. Moreover, motorcyclists typically purchase new bikes, apparel, vehicle servicing and aftermarket equipment from local dealers that are family-owned small businesses.
Specifically, motorcycles are included as "qualified vehicles" in Section 1008 of the legislation. Those purchasing a new motorcycle will be able to deduct the sales and excise taxes on their 2009 tax returns. Prior to the actions taken by the AMA and others, the deductions only applied to the purchase of a new car or light truck.
 

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So not all is bad in that bill :eek:4:
 

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I have not seen any details as lawmakers were only given the bill to read late the night before voting. But knowing the othe things in the bill it will be taken off the top of you Gross Income to arrive at your Adjust Gross Income (AGI) and not where it should be at the bottom as a credit against Income Tax due. Hope we find out soon as I am in the RV Industry and it appears this is part of the same provison of the Bill. Time will tell.
 

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Bad is all taketh and no giveth
must be at least a little good in there
 
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Discussion Starter #7
Correct me if I'm wrong, but don't we get to deduct all sales taxes paid if we live in a state that does not have State Income tax?

I'm in Texas and I can deduct all Sales taxes paid if I itimize. Where is the benefit for those of us that live in states with no State Income Taxes? :shrug:
 

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Correct me if I'm wrong, but don't we get to deduct all sales taxes paid if we live in a state that does not have State Income tax?

I'm in Texas and I can deduct all Sales taxes paid if I itimize. Where is the benefit for those of us that live in states with no State Income Taxes? :shrug:
bingo

we deducted ours in arkansas as well

i see this as fluff and lip service at best
 
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Discussion Starter #9
I see Robin Hood is still in town. Steal from the taxpayer and give to those who can no longer figure out how to make money on their own. Have you guys priced Golden Parachutes recently. Their very expensive.
 

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I see Robin Hood is still in town. Steal from the taxpayer and give to those who can no longer figure out how to make money on their own. Have you guys priced Golden Parachutes recently. Their very expensive.
The government is our Golden Parachute. Just ask any Dumocrat.
 

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Correct me if I'm wrong, but don't we get to deduct all sales taxes paid if we live in a state that does not have State Income tax?

I'm in Texas and I can deduct all Sales taxes paid if I itimize. Where is the benefit for those of us that live in states with no State Income Taxes? :shrug:
Correct.

I'm a fan of Obama, but right now it appears that he is more concerned with fast than right. This is one more example of a part of the proposals that sounds good in speaches, but is not likely to have much effect.

If they want to incentivize purchases, they should just allow a tax credit as a percentage of the purchase price.
 

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Correct me if I'm wrong, but don't we get to deduct all sales taxes paid if we live in a state that does not have State Income tax?

I'm in Texas and I can deduct all Sales taxes paid if I itimize. Where is the benefit for those of us that live in states with no State Income Taxes? :shrug:
Not paying State income taxes:shrug:
 

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Yes it is!!!:eek:4: What they giveth with the right hand they taketh away with the left.
Yep. They were saying on the news this morning that this stimulus bill is going to make the national debt so bad that its going to have bad effects for decades--like raising interests rates. So we are not making out like they want you to think we are with this bill. Its absurd.
 

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Yep. They were saying on the news this morning that this stimulus bill is going to make the national debt so bad that its going to have bad effects for decades--like raising interests rates. So we are not making out like they want you to think we are with this bill. Its absurd.
not quite

its near 10 trillion now after the LAST 8 YEARS

and now will be about 11 trillion with the economy boost attempt

not much difference

and we have had miserable interest, for THE LAST 8 YEARS already

upwards of a half trillion right now before the new bill

so this attempt to help the economy, isnt much different than what has been going on the LAST 8 YEARS, as far as huge debt goes
 
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