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, July 18, 2006

Hybrid Cars And Alternative Fuel Vehicles - List Updated

Hybrid Vehicle Tax Information
In general, hybrid vehicles have higher price tags than conventional fuel vehicles. Accordingly, you should consider whether the combination of gasoline savings and potential tax credits will allow you to rcoup the hybrid's higher price. The uncertainty in predicting future gas prices, the difficulty in estimating the number of miles the car will be driven, the possibility that additional tax incentives for hybrids will be allowed and the resale value of a hybrid vehicle also affect the value of a hybrid.

Furthermore, since hybrid vehicles use expensive nickel-metal hybride battery packs that do not have unlimited lives, the battery replacement expense, which may be $3,000 or more, must also be considered.

The credit does not apply against the AMT and any unused credit cannot be carried forward to another year


Post a Comment

<< Home