geggytah Posted August 28, 2009 Share Posted August 28, 2009 Excuse my ignorance, but I noticed that there is a $2350 tax credit that is given if you purchase a new hybrid vehicle. How would this affect my federal income taxes at year end? Would I actually be given the $2350? Or is it more based on giving me some of it but how much depends on the rest of my income/tax paid factors? Link to comment Share on other sites More sharing options...
Fezmid Posted August 28, 2009 Share Posted August 28, 2009 I don't know the specifics -- but keep in mind that it doesn't apply to all hybrids. It was only applied to the first X number of hybrids of each model. I know all of the Honda and Toyota hybrids are no longer eligable. Link to comment Share on other sites More sharing options...
geggytah Posted August 28, 2009 Author Share Posted August 28, 2009 I don't know the specifics -- but keep in mind that it doesn't apply to all hybrids. It was only applied to the first X number of hybrids of each model. I know all of the Honda and Toyota hybrids are no longer eligable. yeah i knew that...looking at an altima Link to comment Share on other sites More sharing options...
Chef Jim Posted August 28, 2009 Share Posted August 28, 2009 A tax credit is deducted directly from the amount of taxes owed where a tax deduction is a reduction of your taxable income, big differenc. How it's working here is anyone's guess seeing it's a government program Link to comment Share on other sites More sharing options...
Just Jack Posted August 29, 2009 Share Posted August 29, 2009 A tax credit is deducted directly from the amount of taxes owed where a tax deduction is a reduction of your taxable income, big differenc. How it's working here is anyone's guess seeing it's a government program They'll tell him sorry, he didn't buy the vehicle on a Tuesday at 3:15pm. Link to comment Share on other sites More sharing options...
Corp000085 Posted August 29, 2009 Share Posted August 29, 2009 http://bexhuff.com/hybrid-or-hummer get a modern (model year 2007+) diesel 4 cylinder. Hybrids are an absolute waste of money. The only thing green about them is the money that they pad their execs with. Hybrid=marketing gimmick. You can take your $4000 tax credit and use it to buy a $3800 battery after 40,000 miles. Link to comment Share on other sites More sharing options...
Arkady Renko Posted August 29, 2009 Share Posted August 29, 2009 I don't know the specifics -- but keep in mind that it doesn't apply to all hybrids. It was only applied to the first X number of hybrids of each model. I know all of the Honda and Toyota hybrids are no longer eligable. Ford is about to phase out as well. Link to comment Share on other sites More sharing options...
Arkady Renko Posted August 29, 2009 Share Posted August 29, 2009 Also, keep in mind that you may have worse results during the winter with a hybrid: http://www.autoblog.com/2009/08/19/review-...e-60-degrees-m/ Link to comment Share on other sites More sharing options...
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