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You can deduct state or local sales and excise taxes paid on new cars or small trucks -- on up to $49,500 of the purchase price. And if you bought two, you get to take the deduction twice. The new wheels must have been purchased between February 17 and December 31, 2009. If your state doesn't charge a sales tax, you can take a deduction for other taxes or fees. This starts phasing out with an income of $125,000 to $135,000 for single taxpayers and $250,000 to $260,000 for joint filers. Use IRS Publication 919, "How Do I Adjust My Withholding?" to estimate the deduction.