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Sales Tax Write-offs for Vehicles and Motor Homes A provision in the recent Stimulus Act provides that qualified motor vehicle taxes are deductible as either an itemized deduction or as a component of the standard deduction.   Retaining Tax Information and Records Retaining and storing your income tax information and records is an important final step of your tax filing responsibility. This article contains information on the rules for keeping your tax records.   Borrowing from Your 401(k) Plan Individuals who participate in a 401(k) plan sometimes borrow from their plan.