Hello All,
This was posted on another forum and I pass the information on to you as it may apply. I am not a tax attorney and don't play one on TV:
The tax deduction for the purchase of a motorcycle is part of the
Economic
Stimulus Act (the "Act") signed into law by President Obama on
February 17. The
Act specifies that the tax deduction applies to anyone who purchases
a
motorcycle from Feb. 17 (enactment date) through Dec. 31, 2009.
The original language in dealing with tax deductions only included
automobiles
and light duty trucks. The AMA worked hard, along with Harley-
Davidson, to
include motorcycles into the bill.
Information of what motorcycle qualifies for a tax deduction, it is as
follows:
1. Must be purchased from February 17 through Jan. 1, 2010
2. Bike must be less than 8,500 lbs Gross Vehicle Weight
3. Cost less than $49,500
4. you must make less than $125,000 in gross taxable income
($250,000 for
joint filers)
5. deduction is phased out for taxpayers with modified adjusted
gross income
between $125,000 and $135,000 ($250,000 and $260,000 in the case of a
joint
return).
If you meet the criteria, you will be able to deduct the sales tax and
excise
tax as a non-itemizer.
As for your direct question, the tax deduction provision applies to
both
domestic and foreign.
AMA Press Releases on subject
http://www.amadirectlink.com/news/story.asp?id=627 http://www.amadirectlink.com/news/story.asp?id=740 http://www.amadirectlink.com/news/story.asp?id=792
