Thread: How to tell if you will be able to get the tax credit?
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Old 04-21-2007, 11:21 AM
jus407 jus407 is offline
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Real Name: Justin
Hybrids: none :(
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Default Re: How to tell if you will be able to get the tax credit?
Quote:
Originally Posted by worthywads View Post
Did your parents pay the alternative minimum tax this year?

I'd suggest they look at this years taxes and determine what credit they'd have gotten this year.

I'd also suggest that any parents that can afford to spend 20K on their kids first car are rich. My dad paid for the insurance on the car I bought completely with my own money, but I had to pay insurance if my grades fell below a B average. You're very lucky.

how do you determine what credit they could have gotten is there a formula somewhere?

edit

the reason i mentioned it was my perents and we werent rich but not poor was because i heard that your income plays a role in the ammount of credit you get, and i meant first new car not first car i am driving a 95' lumina right now (which i hate but its a car)
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