The Federal Tax Credits Blog

Posts Tagged ‘cars’

Question: How do I find out how to acquire a grassolean tank for myself or my community? I keep hitting dead-ends.?

I live in a horse community and there are a large number of trucks that run on diesel fuel. This woul be a great place to introduce a green, 100% non-pollutting fuel. If I could obtain the fuel in a wide enough radius: so I don’t run out of fuel looking for a pump, I would purchase a diesel vehicle.
I wonder why truck companies don’t utilize this fuel with the amount of pollution they contribute to the atmosphere. Maybe a government agency could offer corporate tax credits for using clean fuel. After all, bottom line is, money! People who have it only care about making more for themselves, no matter the cost to the environment. Yeah, let’s drill in Alaska and send all of the oil to Japan because it has so many impurities our refineries cannot process it. Good Idea?

Answer: http://www.grassolean.com/

That is assuming you mean cow-chip bio fuel.

Bad biodiesel year ends on dour note

An alternative fuel for diesel engines is off to a shaky start this year though it emits fewer pollutants and cuts down on petroleum use.

MeltDown #191 EMERGENCY ECONOMIC STABILIZATION

The rose, being the most popular garden and cut plant, has over 20,000 cultivars in the Northern Hemisphere alone. This number originates from a conservative figure of only 150-200 species of wild roses. Fossil specimens found in both Colorado and Oregon show that roses have been growing for more than 30 million years to date. More fossil specimens were found in North Africa and are said to be at least 4,000 years old. Variant wise, only five of the massive figures above cut as the most popular: the Hybrid Tea, Floribunda, Grandiflora, Climber, and Miniature roses.

Hybrid Tea roses were first cultivated in 1867 by a French nurseryman named Jean-Baptiste Guillot. He achieved the first Hybrid Tea by budding an old Chinese garden tea rose and a European rose. While it is not as fragrant as the other variants, it is safe to say that this rose is the most popular of all because of its wide selection of colors and its long stem that makes it ideal as a cut blossom.

The Floribundas can easily be distinguished from Hybrid Teas because of their dense clusters and big, simultaneous blossoms sitting on its truss. It was first cultivated in 1909, crossing a Polyantha and a Hybrid Tea. This variant is generally easier to maintain than its parents, making it ideal for parks and similar spaces.

The Grandiflora was first cultivated in the mid 1900s, crossing a Hybrid Tea and a Floribunda. Its stem is slightly shorter than a hybrid tea’s and its blossom’s size is midway its parents’. The Queen Elizabeth, the first Grandiflora, is still considered as one of the best variants of this rose class.

All Old and Modern roses have their “climbing” counterparts. The canes of the Climbers’ shrubs are naturally more flexible and much longer than its bush form. Its form on Old Garden roses can generally be attributed to the natural growth habit while in Modern Garden roses, it’s actually an end result of mutating continuously. Most Climbing roses grow anywhere between 8-20 feet in height and needs to be “trained” to grow upwards by tying to structures. Miniature roses, similar to Climbers, are simply smaller versions of Old Garden Roses. This class of roses are usually twiggy in form with repeat-ing shrubs that grow anywhere between 6 to 36 inches in height. Its color range is similar to the Hybrid Tea’s and is usually marketed as houseplants.

GM takes on Nissan in electric car battle

The next phase in the rebirth of the electric car is turning into a battle between General Motors and Nissan Motor Co. GM executives, speaking Tuesday at a plug-in car conference in San Jose, said their Chevrolet Volt will cost $41,000 when it hits the market… ChevroletVolt – General Motors – Electric car – Nissan Motors – Plug-in hybrid

Question: Hybrid tax credit?

How do i get the 2007 Prius tax credit?
I bought two prius one in Feb and the other one in March 2007. I am currently out of the US and i’ll have to do it myself, can you please help me with what forms do i need and what needs to be attached to it. I’ve read several different things online, but nothing concrete and for 2007. If you’ve done it can you please let me know all the details? In case i decide not to ask for that tax credit this year can i do it next year?Thanks

Answer: http://www.toyota.com/prius-hybrid/faq-tax.html

http://www.irs.gov/newsroom/article/0,,id=157557,00.html

http://www.irs.gov/newsroom/article/0,,id=157632,00.html

http://www.fueleconomy.gov/feg/tax_hybrid.shtml

The vehicles have to have been purchased (or financed) new, and not used or previously owned. They cannot be leased (the leasing company is the owner so they get the credit, not you). Also, they have to be predominantly used in the US.

The amount of the available credit for the Toyota Prius depends on the date of purchase. (The hybrid vehicle income tax credits had a sunset/phaseout provision, based on the date after the calendar quarter that a manufacturer sells 60,000 hybrids since the start of the credit (Jan. 1, 2006).) For a Prius bought between 10-1-06 and 3-31-07 like yours, the available credit is $1575 for each Prius purchased. However, the amount can be reduced if you are hit with AMT…

there is a letter-writing campaign to remove the sunset/phaseout provision on the hybrid vehicle tax credit: http://ucsaction.org/campaign/02_01_hybrid_tax_credit

If you are an individual claiming the credit, you will need to fill out IRS Form 8910 Alternative Motor Vehicle Credit: http://www.irs.gov/pub/irs-pdf/f8910.pdf (You will also have to do an AMT calculation as well, which means that you’ll also have to file Form 6251 Alternative Minimum Tax — Individuals, http://www.irs.gov/pub/irs-pdf/f6251.pdf , and that may reduce or even eliminate this credit on you…) This will then go on your Form 1040.

If for a business, you will need IRS Form 3800, General Business
Credit: http://www.irs.gov/pub/irs-pdf/f3800.pdf

You can only take the credit in the tax (calendar) year that you purchase the new hybrid, so if purchased in 2007 you can only file it on your 2007 taxes. You cannot roll the credit over to another year. You could always file a 2007 1040X amended return later, buy why file twice for the same year if you don’t have to?

Your individual state may also offer state tax credits or deductions as
well, so you should also check in with your individual state.

http://www.eere.energy.gov/afdc/progs/tech_matrx.php

http://go.ucsusa.org/hybridcenter/incentives.cfm

Some more links can be found here:

http://autos.groups.yahoo.com/group/toyota-prius/links/Financial_000963256550

(and note that I am not a tax professional, so if you have further questions I suggest that you consult with one!)

Hang up and drive, or else face a fat ticket

A new state law means that on Jan. 1, people who want to drive, dial and talk must use a hands-free accessory

Hybrid Tax Credit

Question: What car do you think was the best you ever owned, in terms of function, fuel efficiency, design and price?

Just been thinking of some of the previously manufactured cars that really were priced right and efficient. Of the cars I have owned, my 1995 Ford Escort Wagon was probably the best investment I ever made in a car. Got over 300K miles on it with no problems whatsoever. Great efficiency, could hold a lot of stuff, no mechanical problems, easy to clean seats and floor, and great resale. Wish I had that car again!

It was so efficient,I ended up having to pay back part of the mileage credit on my taxes…I was working a sales job, and got more out of that car than they figured was possible.

The other car I would like to have, is an old Volvo 240 sedan. The only reason I have never owned one is that I live in rural Michigan, and there are no service places that can work on it. But I have friends in Sweden that have driven that model for up to 25 years!

Answer: One great car I had was a 1993 Chevrolet Lumina, all out comfortable, inexpensive, and even passed california smog without cat convertor replacement or any major repairs with over 330,000 miles on the engine. Transmission is a weak spot however.Finally blew the tranny.

My ’92 corolla was free, very good on gas , not as comfortable as the lumina, but has ell over 300, 000 miles as well. Tune-up parts are a little more expensive, but still reasonable.

Most fun and reliable, and even decent on gas on the freeway, was my ’79 camaro with the 305 v-8. Keep your foot out of the accelerator and it would do great on gas, especially on the freeway and have fun doing it.

DEC offers tips for safely using wood stoves

State Department of Environmental Conservation Commissioner Pete Grannis recently issued a news release reminding New Yorkers to be safe when burning wood in fireplaces or wood stoves. “While many still heat their homes with natural gas or oil, there has been a recent resurgence in the popularity of wood stoves,” Grannis said.

Propane Motor Fuel Tax Credit