Is sales tax owed on leased vehicle declared a total loss in Texas?

Answer Sales tax is applied at the point of sale when you make your purchase. They have nothing to do with a loss that occurs at a later time. So if you never paid those sales taxes then you would still o... Read More »

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If you owe more than the value of a car that was declared a total loss how much does the insurance company pay?

Answer Typically the insurance companie will pay the cost of the vehicle at the time of loss, they will not pay anything more. If you purchase a vehicle that is higher than blue book, then consider... Read More »

What Happens When a Mobile Home Is Declared a Total Loss?

If you own a mobile home, insurance is an important way to protect your investment. However, mobile homes present risks that are impossible to avoid, no matter how much insurance you have. In some ... Read More »

Can I deduct sales tax on a leased vehicle?

On One Hand: It is DeductibleSales tax paid for a leased vehicle is deductible on federal income tax returns, along with all other state and local sales tax. However, deductions must be itemized to... Read More »

Texas Sales Tax Rules on Vehicles That Are Leased?

Leased vehicles are subject to different tax laws than the rules that govern vehicle sales in Texas. People leasing vehicles are still required to pay sales tax, even though the car was not fully p... Read More »