Location: Westland, Michigan, United States

Graduate of Walsh Institute Of Accountancy (Now Walsh College) Michigan in 1959. Retired in 1987, but still active in the profession **World War II Veteran (Pacific) **PHONE 734-261-1979 **E-MAIL **(Domain Name CPASENSE Registered) **Mentioned in the Journal of Accountancy, SmartPros, Tax Prof Blog, CPA2BIZ, CPA Journal, AccountingWEB, CPATrendlines & More **Search Accounting Blogs: (Includes cpasense)**TOPICS - FINANCE - FEDERAL & MICHIGAN TAXES ** Making Sense Of Your Finance & Taxes

Tuesday, June 21, 2005

Clean Fuel Alternative Vehicle Deduction
For 2005, the original purchaser of a qualifying hybrid gas/electric car can claim a deduction for $2,000 of the cost of the car [IRC Sec. 179A]. In fact, from a tax standpoint 2005 is good year to invest in a hybrid. In 2006, the deduction is scheduled to drop to $500.

The following vehicles have been certified by the IRS as qualifying for the clean-fuel vehicle deduction
Toyota Highlander SUV- Model Year 2006 (Added June 27, 2005)
Lexus RX 400h SUV- Model Year 2006 (Added May 5, 2005)
Ford Escape Hybrid SUV- Model Year 2005
Toyota Prius- Model Years 2001 through 2005
Honda Insight- Model Years 2000 through 2005
Honda Civic Hybrid- Model Years 2003 and 2005
Honda Accord Hybrid - Model Year 2005


Internal Revenue Service:,,id=107766,00.html


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