The Federal Tax Credits Blog

Archive for the ‘Car Tax Credits’ Category

Briefly: June 5

Read about what’s happening in and around Plymouth.

2010 Volkswagen Golf TDI Diesel VW Jetta TDI SportWagen Passat Baltimore used VW cars

Question: Will Legislatures pass legislation this year that will encourage us to buy hybrid cars?

Will it become affordable to purchase a plug-in hybrid car through sales and income tax rebates and credits? Wouldn’t this be the moral way to encourage Americans to conserve energy and get greener? Wouldn’t this be in our National Security interest? Wouldn’t this be a better society?
Most materials can be recycled. I expect most batteries are also. If we pass legislation that can reduce the shock of the expense to buy these more expensive vehicles, people will begin to buy them and the price will come down drastically! I think that is what we want!

Answer: There’s already some income tax credit for those who purchase hybrid cars. Just go to irs.gov, and search for keyword “hybrid”, and you’ll see how much credit you’ll get for each type of hybrid/fuel-efficient cars:

http://www.irs.gov/irs/article/0,,id=176409,00.html

Ghosn Overruling Electric Engineers Makes Lutz See Losing Bet

Jan. 7 (Bloomberg) — The crowd of 600 falls silent as an employee asks Chief Executive Officer Carlos Ghosn if he’s staking too much of Nissan Motor Co.

To cope with the gloomy real estate market, lawmakers and businesses call out for an increase in tax credit for first-time home buyers. Right now, the tax credit is maxed at $8,000 and is expiring this coming fall. Some business groups suggest the tax credit be increased to $15,000 for first-time home buyers.

According to the National Association of Realtors (NAR), 40% of home purchases consist of first-time home buyers, a 5% increase than the historical average. The tax credit, originally part of the economic stimulus package, was introduced last July 2008 and was later expanded in February. According to some economists, the tax benefit is crucial to stimulate home buying and to stabilize prices.

The proposal to increase the tax credit includes the following:

Bernard Bauhmol, an Economic Outlook Group economist, is confident that the Congress will approve the proposal because “it’s important that housing come back” despite the fact that raising the credit will result to reduction of taxes. Meanwhile, the Business Roundtable, a group of CEOs of big companies urges the Congress to increase the tax credit to up to $15,000 and make all home buyers eligible. Realogy CEO Richard Smith thinks that the real issues are how to stimulate the “move-up market” and how to pay for it.

At the moment, the policy on tax credit does not apply to singles who earn above $95,000 per annum and couples who earn above $170,000. There are some business leaders who want these income caps removed to increase the number of eligible individuals. At the end of the day, one thing’s for sure – if these proposals were approved, more people will definitely take advantage of the expanded tax credit.

A decade of news: Property taxes, hospital sale, steel, economy are top stories in Duneland

The Top 10 new storys of the decade in Duneland and Porter County, in no particular order.

Free Electric Car Tax Credit and Car Demo!

Electric Car Conversions – Batteries

The heart of any electric car conversion is the batteries. You will need special batteries, called deep cycle batteries in order to make your electric car work properly.

These batteries allow you to charge quickly and discharge further than regular car batteries normally found in your vehicle now.

They are called deep cycle because normal batteries would be wrecked by the frequent draining of the batteries used in the system. Think of it as pouring water out of a glass. A regular battery you can only pour about 10% of the water out, but a deep cycle battery you can regularly discharge down 30% or so.

You don’t want to go lower than 30% down though. Topping up a battery that is to the 70% level is as low as you go.

Where do you find deep cycle batteries? We have been living off the grid for over 10 years now and have been living with battery systems to run our home for that long.

The same batteries used with solar panels and wind generators are easily fitted to electric car conversions. They are easy to find, but can get expensive if you don’t know where to look. The plans show some great sources of free batteries too. That is a great savings since the batteries for an electric car can be one of the greatest expenses.

Watch this interesting video that shows some high school students building their own electric car, including a good shot at the batteries.

Video??

A bunch of high school students can do it, so can you.

Finding batteries is not that difficult either, isn’t it time you got started.

Electric car Plans

http:www.AlmostAnyting.info/EnergySaving

With $42,000 Tax Credit Ending, Tesla reports strong Boulder sales

The incredibly liberal tax incentive — which is set up to encourage people to buy alternatively fueled vehicles such as the electric Tesla Roadster — is only available for two more days. Beginning Jan. 1, the credit will be capped at $6,000.

Tesla Sedan Unveiled! Tesla Model S Hits the Road

What do you get for the avid golfer who has it all? At times, it can be difficult to come up with a gift idea for someone who loves golf so much, since they probably already have everything they want or need.

Here are three unique gift ideas for avid golfers:

Framed picture of their favorite golfer:

The picture should not only be professionally enlarged and matted, but professionally framed as well. This is something your golfer can hang in their office or den, so that guests will notice it as soon as they walk in. A black and white photo is probably the most dramatic, though you can purchase golf photos in color as well. Check online to see if you can find a picture that isn’t commonly found elsewhere and make your gift really stand out.

Engraved golf driver:

You can either purchase a new driver for the golfer in your life or take one of his favorites and have it engraved with a favorite saying or quote. You also can simply engrave it with his name. Whatever you choose, engraving the driver will make it more personal, creating a unique gift that will be cherished for years to come.

Golf cart seat covers:

Golfers cherish their golf cart because it gets them around on the lengthy fairways. To preserve the life of the cart and the cart’s interior, give the golfer in your life a set of golf cart seat covers. The seat covers will protect the interior of the cart from the hot sun and add some pizzazz to the golf cart, helping it to stand out from other golf carts on the links.

If you aren’t sure if the golfer in your life already has these items, start a casual conversation about the golfing memorabilia they own. You can get a clear idea at this point of what he or she has and does not have, and through the conversation, find out what they’ve been really wanting or needing. Golfers are a fairly easy group of people to purchase gifts for. As long as it is something golf-centered, they will be sure to love and appreciate it.

Saturday’s Last Word on Friday

What’s that boom? “Several times during the night this week, I’ve heard a series of what sounds like explosions. Does anyone know what’s going on and why it’s happening while we sleep?

Golf Cart Tax Credit and the Ultimate Golf Cart Showroom