Qualified vehicles purchased on or after 1st of January, 2006, will be entitled for a tax credit ranging from $400 to $3,400 based on its fuel saving. The hybrid car tax credit is a combination of two different tax credits. The math in this computation is very complicated, and luckily you won’t...

The IRS has announced that people buying Toyota hybrids will no longer be able to claim a tax credit. This raises the issue of expiring tax credits and what it means for the future of hybrid cars. Hybrid cars are extremely popular and none more so than the Toyota Prius. The popularity arises from a...

Starting in 2006, individuals buying hybrid cars will get a tax credit instead of a tax deduction. The IRS has just started to kick out the exact amounts you can claim for your new hybrid. Various Toyota Hybrids Get Tax Credit Certification From IRS Under the Energy Policy Act of 2005, the tax benefits...

Actor Rob Lowe appeared before lawmakers last Thursday and promoted tax credits for people who add a plug-in feature to hybrid cars and trucks. Lowe went to Capitol Hill last week to tout plug-in hybrids and a bill sponsored by Rep. Ed Markey, D-Mass. The said bill would give car owners tax breaks for...

Florida’s Courtesy Toyota finally has the Prius on their lot and guess what? It’s now available for test drive. This is the first time actually in three years that the Toyota dealer has offered such promotion. According to Mike Hughes, Courtesy’s General Sales Manager, “Up until the last...

The U.S. government has expressed its concern for global warming and has enacted laws to support the initiative by car makers in producing environment friendly vehicles. In 2005, the legislation Energy Policy Act was passed into law. This law stated that owners of certain environment friendly vehicles...

Starting in 2005, the IRS (Internal Revenue Service) began to give out tax credits to people who made the important decision to embrace technologies that are good for the environment, also referred to as being “green.” Prior to that time, people were able to save money by taking advantage...