Third, the IRS is launching a campaign to alert consumers of a new tax benefit for auto purchases made between February 16th and the end of this year -- if you buy a car anytime this year, you may be able to deduct the cost of any sales and excise taxes.
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And the government is back to providing tax breaks to the auto sector to help increase auto sales.
The impact of both the Obama action and the Romney alternative on the auto workers, the unions, the shareholders, the debt holders, the tax payors, and the future viability of the auto companies and their ability to succeed in a competitive world need to be compared.
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As such, Governor Brown wants to pursue the idea of increasing oil production there as a way to provide jobs, boost tax revenues and fuel the auto sector.
The biggest deduction that most people worry about losing is the one for home mortgage interest, a holdover from when the deductions for other forms of interest like credit cards and auto loans were eliminated in the 1986 tax reform law.
The Tuesday tariff is yet another measure aimed at protecting local industry following sector-specific tax incentives (like the auto industry) and a more aggressive intervention policy to maintain the foreign exchange rate between the U.S. dollar and the Brazilian real at weak levels.
The tax routs have propelled the Italian auto owners to unload them as fast as possible.
Nor did they have any passive tax-investment in the American auto industry, with General Motors .
Fortunately, if you hire a contingent fee lawyer in a personal physical injury case (say an auto accident), your entire recovery is tax-free.
On the other hand, Zerbe said, another tax change Congress is considering could hurt auto dealers--and needs to be rethought.
No tax exclusion, no tax deduction, and no tax credit just like life, auto and property insurance.
Another auto executive in China shared with me statistics demonstrating why the tax breaks went to cars with engines of 1.6 liters or less.
And the government needed to tax gasoline more to create higher prices and force the auto manufacturers to build more efficient cars.
Lee Iacocca, for example, was only one of several auto-industry heavyweights to get caught in an oil-and-gas tax shelter that ran into trouble (FORBES, June 4).
The person said tax authorities were looking into allegations that BMW had imported partly-assembled auto parts into India but declared to customs they were unassembled to avoid paying higher taxes.
Federal tax cuts, rising credit availability and shrinking unemployment are also driving growth for the auto industry here.
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The growth of the Chinese auto industry has been under pressure in recent month compared to last year when Beijing boosted demand with tax cuts and subsidies.
Carmakers can pay less tax on imports if they do more engineering work in Brazil and use mostly Brazil-made auto parts in their local factories.
Our experts gave thumbs down to a new car buyer tax break--an idea that has been proposed by some in Congress and in the auto industry.
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