Considering buying a Motorcycle.. Now may be the right time

We all hear of the the stimulus package that the President put into action. I hear and hear but don't see it doing much but I finally found something in it that could be worth while. Looks like a motorcycle purchase is included and you can save up to 10% on your purchase, up to $2500. Here is an excerpt of an article I found that explains more.

Vehicles eligible for the motorcycle tax deduction added to the American Recovery and Reinvestment Act are likely to include on-road and dual-sport motorcycles, as well as motor scooters and mopeds, according to the American Motorcyclist Association (AMA). The tax deduction -- first reported by the AMA on Feb. 14 -- was added at the eleventh hour to the landmark $787 billion stimulus package that President Barack Obama signed into law on Feb. 17. The law also includes a 10 percent tax credit up to $2,500 for street-legal electric motorcycles purchased by December 2011.

To illustrate the impact of the tax deduction, consider the case of a new motorcycle purchase of $10,500. For a 7.5 percent sales tax rate, the tax would be $787.50. To take advantage of the new law, purchasers would include that amount on their 2009 federal income tax return, meaning that their taxable income would be reduced by that amount before taxes are calculated. States set their own sales tax rates, so the actual amount of savings will depend on the taxpayer's state and tax rate.

The complete article can be found here

http://www.motorcycle-usa.com/2/2805/Motorcycle-Article/2009-Motorcycle-Tax-Deduction-Details.aspx