Can we have a car older than 3 years? if so what kind of tax hit are we talking about? Thanks
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Ok I will answer your question since the other 100 or so people that viewed your posting (must think they are to good to or dont know what the hell this means) won't. It is no big deal if you have a 3 year or older/newer car. At the end of the year the IRS will bill/take out of taxes, taxable income (due to car allow). If your car is older than 3 years.. Yeah I know it sounds like a bad thing, but I have a ++ 3 year old vehicle. Think 60-80 bux is what they took out of my return. If 3 years or newer will not count as taxable income. Still not bad to drive a car that isnt cookie cutter. Hope this helps, Dont hold against all of us for the snobs! Good luck