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Old 12-04-2009, 03:46 PM   #3 (permalink)
zip159
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Join Date: Jul 2009
Location: Atlanta
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Quote:
Originally Posted by dweedlebug View Post
FYI -- Good info regardless, but it REALLY is not as much as most people think.

Look at the back of the Schedule A form for the calculation. A $30,000 car at around 7% tax gets to deduct ~$150.
It really depends on your tax bracket.

Car: 30,000
Taxes @ 7%: 2,100

Estimating 16% for taxes still equals $336. Sounds good to me.
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