New tax incentives are available for those who like to travel on two wheels. The economic stimulus bill states that those who buy a motorcycle between now and January first 2010 can receive tax benefits. The motorcycles must cost less than $49,500, and the bike must be less than 8,500 pounds. Owners must make less than $125,000 a year, or $250,000 for joint filers. It also says deductions depend on your modified adjusted gross income. The benefits also apply to three wheeled vehicles.
Kevin Smith, a Tallahassee man who owns a show-quality Harley said the tax on his bike was more than $1,800. He also believes motorcycle owners should get a break because of the break they give the gas pump. "I think, you know, in today's economy every little bit will help out with that. I think it helps cut down on fuel costs and stuff. You know, obviously the less gas we purchase, the lower they'll start dropping the prices on fuel."