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Subject:
Item Title: Buying a New Car this Year?
Summary:

  
David Stiefel, MBA, CPA/PFS
Shareholder and Director, Family and Closely Held Business Services

If you buy a hybrid for business or personal use this year―or a passenger car, truck, minivan, SUV, or heavy SUV for business use―you may get a break on your federal income taxes.

Hybrids are eligible for tax credits as a result of the Energy Policy Act of 2005, although the credits are reduced or eliminated this year for a few of the most popular models. In addition, as a result of the Economic Stimulus Act of 2008, there are also expanded expensing provisions and first-year depreciation deductions available for new business-use automobiles purchased in 2008.

Click Full Article for more information on these federal tax breaks, available to you this year.

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The subject matter contained in this newsletter is often complex, with nuances that cannot be fully described in a single article or announcement. It is therefore vital that you consult with us -- and your legal and investment advisors, as appropriate -- before implementing ideas contained in the newsletter. Bader Martin, PS is not responsible for misinterpretations, errors, or omissions related to the content of this newsletter. Nor are we responsible for its applicability to your personal, business, or tax situation.