The Federal Tax Credits Blog

Archive for the ‘Car Tax Credits’ Category

Question: How can i collect on an Automobile Tax Credit?

I am in the market for a vehicle, and a friend told me that there is a tax credit available for certain hybrid models. The model i am looking at is the 2008 Civic Hybrid Hybrid with CVT. Another friend says I won’t be able to collect it because I have no children… So, how do i qualify or not? and if so, how do i collect?

Answer: First check out this link, http://www.hybridcars.com/federal-incentives.html having children or not does not matter for this type of credit. The biggest concern is if Honda has sold too many hybrid cars, but that shouldn’t be a problem since the year just started. So if you buy the Civic you will be eligible for a $1050 cash credit on your tax return in filed April 15, 2009 based on this link from the IRS. http://www.irs.gov/irs/article/0,,id=176409,00.html The Civic already gets great gas mileage in non-hybrid form, I’m not sure what the price difference is, but probably still a good idea to get the hybrid.

Daimler Anticipates Group EBIT of More Than Euro 4 Billion In Full-Year 2010

STUTTGART, Germany, April 27, 2010; Daimler AG (stock-exchange symbol DAI) has reported first-quarter EBIT of euro 1,190 million, as previously disclosed on April 19, 2010 (Q1 2009: minus euro 1,426 million).

Alex Jones – carbon credit scam

Question: Ron Pauls 100% Medical Cost Tax Deduction?

Ron Paul wants to give you a tax credit for 100% of any of your medical costs. Is that the way to go for not only cutting taxes but saving americans money and allowing them to get more affordable healthcare?
.Provides all Americans with a tax credit for 100% of health care expenses. The tax credit is fully refundable against both income and payroll taxes.
.Allows individuals to roll over unused amounts in cafeteria plans and Flexible Savings Accounts (FSA).
.Makes every American eligible for a Health Savings Account (HSA), removes the requirement that individuals must obtain a high-deductible insurance policy to open an HSA; allows individuals to use their HSA to make premiums payments for high-deductible policy; and allows senior citizens to use their HSA to purchase Medigap policies.
.Repeals the 7.5% threshold for the deduction of medical expenses, thus making all medical expenses tax deductible.

http://www.lewrockwell.com/paul/paul407.html

Answer: If you want a perscription for skyrocketing medical bills, this is it.

The Hartford Reports First Quarter 2010 Net Income Of $319 Million

HARTFORD, Conn.—-The Hartford Financial Services Group, Inc. : Core earnings* of $545 million Core earnings per diluted share* of $0.14 includes after-tax charges for CPP repurchase, litigation accrual and new federal healthcare legislation totaling $1.18 per diluted share Book value per common share increased 61% over prior year period to $38.94 With successful capital raise and CPP …

McCain’s Health Care Plan: Worthless

Question: Can I deduct sales tax and also get a hybrid tax credit on a new 2010 car purchase?

Or can you only do one or the other?

Answer: They are separate and one doesn’t exclude getting the other, but the hybrid credit on many models has expired due to the number of units sold.

Roadshow: Carpoolers could get tax break

Congress considering pre-tax credit for those who share a ride to work.

Credit Card Skimming Devices Affixed to Gas Pumps www.IDTheftSecurity.com

Question: Would you support a fifty cent a gallon ($0.50) gasoline tax to support clean energy incentives?

This tax and ALL the revenues generated would be used to supply tax credits and incentives for all individuals to offset the costs of installing solar panels and systems, wind generators, super insulation, and the purchase of hybrid cars/vehicles

Answer: Absolutely not. Alternative energy systems should be economical on their own terms. Why would should I be taxed so that you could install an inefficient energy system? If you think this is a good idea, go spend $20K-30K to install a solar roof and live happily ever after.

City of Martinez Installs EV Charging Stations

MARTINEZ, CA – The three 120V stations, manufactured by Coulomb Technologies, are located in and around downtown Martinez, including one at City Hall; one at Main and Court streets; and one at the Amtrak Station.

2004 Toyota Prius in Portland OR

Question: Why doesn’t Obama pass a stimulus bill that if worth it?

Serious question. Instead of the small little stimulus bill or giving the motor companies billions. Why didnt they just send a check of like 200,000 to all tax payers? I mean how can the american tax payers even buy a car if they don’t have the money to? So we give motor companies and banks money to make sure they had vehicles made ect. for what? So they could just sit there. And banks money for….? I try to keep up with all of this but this is one thing I don’t understand. If the American tax payers each got 200,000 or less (how ever much) then we would have the money to either pay off mortgages, buy a new vehicle, pay off credit cards, or just buy whatever it may be it would help all the banks, small business, motor companies, ect get back on their feet right? So I just want to know what the reasons for this not happening are!

Answer: If you divided up the bill he did pass equally among all Americans it would come out to about $260.

The true reason that Obama would NEVER pass a bill like this is because he’s not interested in stimulating the economy. He’s interested in growing government and increasing government influence over your life. Don’t get confused. Obama has not passed a stimulus bill; he passed a Government Growth Bill that will change the face of this nation for decades or more.

AP News in Brief

BEIJING (AP) — A series of strong earthquakes struck a far western Tibetan area of China on Wednesday, killing at least 400 people and injuring more than 10,000 as houses made of mud and wood collapsed, trapping many more, officials said.