Are the plates issue based on the car value that would be deductible on Schedule A???
Announcement
Collapse
No announcement yet.
California license plates
Collapse
X
-
Tip - if your client can not provide you with the CA DMV renewal form that will list out all of the charges
Ca DMV has a website http://www.dmv.ca.gov/portal/home/dmv.htm go to online services, Vehicle Registration Fee Calculator, Determine Vehicle License Fee (vlf) paid for Tax Purposes
You will need the Vehicle License number, and the last 5 #'s of the Vehicle ID Number (VIN)
Sandy
Comment
-
Cannot deduct fees of any kind
Originally posted by Y2KEA View PostThe renewal form has an item called "Vehicle License Fee". This is deductible on the A. All other junk fees are not.
In NC we have city "fees" and county "fees" and they all show up on the annual vehicle "tax bill" but, in accordance with IRS regs, those separate fees cannot be treated as deductible property taxes.
Maybe CA sees things in a different perspective??
FE
Comment
-
Doesn't change the question
Originally posted by JON View PostThey sent there bills for the licenses for their two cars. There is not any breakout, but just one amount and it sure looks like something is based on value!!
As mentioned earlier, locally the annual "fees" run from $10/vehicle to $35/vehicle dependent upon garaging location. And they use the same mentality for real property by adding on such cutesy things as "$50 recycling fee" for each homeowner. Some are even adding "stormwater runoff fees" to the annual tax bill.
You cannot make this stuff up! ! !
FE
Comment
-
Originally posted by FEDUKE404 View PostI did not think you could EVER deduct "fees" but only taxes which are in some way, shape, or form based upon the ad valorem value of the vehicle.
In NC we have city "fees" and county "fees" and they all show up on the annual vehicle "tax bill" but, in accordance with IRS regs, those separate fees cannot be treated as deductible property taxes.
Maybe CA sees things in a different perspective??
FE
Comment
Disclaimer
Collapse
This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.
Comment