Tuesday, August 25, 2009

Cash for Clunker

Did you take advantage of the clunker for cash offer? Did you get somewhere between $3,500 and $4,500? I’m wondering if you thought about the income tax consequence of accepting that offer. It wasn’t tax-free. Depending on your income tax bracket, that amount will be expected back April 15th by the IRS.

What happened to your critical thinking skill?

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