Did you purchase a new car this year?  Well, it’s important to note that you can deduct local sales taxes paid towards a new car purchases made from February 17, 2009 to December 31, 2009.

Details

• The deduction is limited to the state and local sales and excise taxes paid on a new-car purchase of $49,500 or less.
• Individuals filers must have a  modified adjusted gross income between $125,000 and $135,000.
• Joint filers must have a modified adjusted gross income between $250,000 and $260,000.
• Tax incentives may be combined with Customer Cash, Dealer Cash or other rebates provided by manufacturers.
• Select Ford, Chevrolet, GMC and Nissan Hybrids also qualify for a tax credit.  Honda and Toyota Hybrid tax credits are no longer available.

Click here to see the complete list of Hybrids that still qualify for the tax credit. One vehicle that really stands out to us is the freshly crowned 2010 Motor Trend Car of the Year, the 2010 Ford Fusion.  The Hybrid version gets a whopping 41 mpg on the highway and 36 mpg in the city.  Purchasing one will also get you a healthy $850 federal tax credit.

For more information, head to www.irs.gov.

We did a double-take, as well.  We couldn’t believe it at first, neither, but it’s true–if you live in Colorado.  This could very well qualify as the single biggest incentive, ever. The 2010 Tesla Roadster is arguably the ultimate electric vehicle, a virtual paradox, combining sports-car performance (0-60 in 3.9 sec) with zero emissions.  And now, you can save a whopping 38% off its MSRP.

To learn more about the huge discount, check out the story at Left Lane News. To see other fuel-efficient vehicles that qualify for huge tax credits, check out the Alternative Fuel Income Tax Credits PDF here.

The 2010 Ford Fusion Hybrid has garnered an impressive amount of attention from the media in the past few months since its launch, including the latest development: former presidential candidate John McCain announced via Twitter that he plans to buy one of the highly acclaimed, eco-friendly Fords.

While this unofficial endorsement has made news headlines across the nation, it’s not all that surprising. CarsDirect’s own Top 20 Most Fuel-Efficient cars of 2009 lists the Fusion Hybrid at #5, and justifiably so—it gets a solid 36/41 mpg (city/highway), making it a logical choice for city dwellers and suburbanites alike.

And with the incredible $1,700-federal tax credit available through September 30, 2009, getting a Fusion Hybrid makes even more sense. So whether or not you need the Arizona senator’s personal thumbs up, the 2010 Ford Fusion Hybrid is an excellent car that will both save you some cash and show people you care about the environment as well.