Do you pay federal taxes on cars?
Do you pay federal taxes on cars? Depending on your state or municipality, you may also owe a personal property tax or excise tax. These taxes are usually paid yearly based on the current value of your car. If you owe an excise or personal property tax, you'll generally be sent a tax bill and must pay by the deadline. How much money can you save by carpooling? If you are in a carpool group of four people, you potentially could reduce your commuting expenses by 75 percent. In other words, if you are spending $160 per month just to...