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Old 02-16-2009, 04:35 PM   #1
Scorpio
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Buy Motorcycle..Get Tax Credit...

http://www.bizjournals.com/milwaukee...9/daily68.html

Harley-Davidson Inc. could reap some benefits of the two-year, $789 billion economic recovery and stimulus deal reached between the U.S. House of Representatives and the U.S. Senate earlier this week.

The stimulus package includes an expansion of a tax credit for people buying new cars and light-duty trucks to also include buyers of motorcycles. The change occurred as a result of an effort by Wisconsin Sens. Herb Kohl and Russ Feingold, both Democrats, along with senators from Missouri and Pennsylvania, where Harley-Davidson has plants.

Harley-Davidson (NYSE: HOG) announced in late January that it plans to cut 1,100 jobs over two years — including 645 in the Milwaukee area — and close facilities in Wisconsin. The heavyweight motorcycle manufacturer is cutting its work force to reduce production levels to match an expected decline in demand for its motorcycles in 2009.

“Like other struggling businesses, sluggish sales have led to job losses in the motorcycle industry and the dealerships that depend on it," Kohl said in a press release. "We should do all we can to help Harley-Davidson weather this poor economy so they can boost sales and retain jobs, and we hope this provision in the economic recovery package will move us in that direction."

Expansion of the tax credit should attract more motorcycle buyers, Feingold said in the joint press release with Kohl.

“This effort to make it easier for consumers to purchase motorcycles as well as cars should help lead to more Harley sales and more Wisconsin jobs," Feingold said.

The economic recovery and stimulus package could be approved by Congress as early as Friday before being signed by President Barack Obama.
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Old 02-16-2009, 04:52 PM   #2
RACER X
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you already can get a tax credit for "big" purchases.
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Old 02-16-2009, 05:03 PM   #3
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So I can get a tax credit for my purchase in 2008?
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Old 02-16-2009, 05:06 PM   #4
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yes, on the tax only.
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Old 02-16-2009, 05:08 PM   #5
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yea tx has this already, only new in some states!


dont you have to go long form to use that tax credit though?

we never spend enough to do it!
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Old 02-16-2009, 05:50 PM   #6
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Quote:
Originally Posted by RACER X View Post
yes, on the tax only.
Are you sure? Not for 08 purpose..only for 09 purchases..like right now..
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Old 02-16-2009, 05:59 PM   #7
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nope for '08, turbotax FTW!
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