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Tax Credit Consulting: Car Buying Stillwater OK

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Jackson Hewitt
(405) 372-4829
126 North Main Street
Stillwater, OK

Data Provided by:
James Oplotnik
3621 Northwest 63rd St
Oklahoma City, OK
Company
Title: President
Company: Access Advisory Group LLC
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Years Experience
Years Experience: 24
Service
Asset Protection Strategies & Planning,Individual Income Tax Planning,Medicaid,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Medicare Planning,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insuranc

Data Provided by:
Ella Teders (RFC®), CFP, RHU
(580) 233-5950
PO Box 3006
Enid, OK
Company
Teders Financial Center
Qualifications
Education: B
Years of Experience: 33
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, personal Coach, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, CommOptions, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, BuySell, Compensation Plans

Data Provided by:
H&R Block
(918) 742-7577
1420 S LEWIS
TULSA, OK

Data Provided by:
Jackson Hewitt
(580) 355-4646
1529 West Gore Blvd
Lawton, OK

Data Provided by:
Mark W. Heinrich Samuel F. Arndt III
1756 S. Utica Ave. Tulsa, OK 74104
Tulsa / Langley, OK
Company
Title: Principals
Company: Arndt & Heinrich Financial Services
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
Westmister College/ BA Accounting
University of Oklahoma/ BA Finance
Years Experience
Years Experience: 20
Service
Life Insurance,Investment & Portfolio Management,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Disability Insurance,Retirement Planning,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Annuities,Alternative

Data Provided by:
Mr. W. Kyle Brownlee (RFC®), CSA
(580) 237-0060
110 N. Indendence
Enid, OK
Company
Wymer Brownlee Tax & Financial Management
Qualifications
Years of Experience: 12
Membership
IARFC, NAIFA
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Seminars Work, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Long Term Care Insurance, Education Plan, Asset Protection, Compensation Plans

Data Provided by:
Mr. John G. Gillespie (RFC®), CEP
(405) 491-0235
6632 NW 39th Exp
Bethany, OK
Company
Access Financial Group, Inc.
Qualifications
Education: Mr. Gillespie, CEP, RFC®, received his Bachelor of Science degree from Trevecca Nazarene University, in Nashville and is a Certified Estate Planner, Certified Trust Specialist and Registered Financial Consultant. AFG is guided by Mr. Gillespie’s experienc
Years of Experience: 28
Membership
IARFC, NICEP
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Planning, Seminars Work, Stocks and Bonds, Mutual Funds, Precious Metals, Annuities, Life Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Charitable Foundations, Asset Protection, Compensation Plans

Data Provided by:
H&R Block
(405) 735-9616
1019 B SW 19TH ST
MOORE, OK

Data Provided by:
Jackson Hewitt
(405) 942-1980
1501 South Sunnylane Rd, Ste C
Del City, OK

Data Provided by:
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Tax Credit Consulting: Car Buying

Tax Credit for Car Buying

You may have heard that you can receive a tax credit for car buying. This is true, but the type of car is what is important here.

Tax credits have long been used by the United States Government to encourage activities that are deemed to be in the public interest. The concern over energy and the rising cost and political implications of oil as a fuel have led to a number of tax credits designed to encourage alternative fuels. You can receive a tax credit for buying a car if you decide to purchase one of the new Hybrid vehicles that use a combination of gasoline and alternative fuels or electrical power.

The credit for hybrid car buying was part of the Energy Policy Act of 2005. It applies to certain vehicles placed in service from 12-31-05 to 12-31-10. The Government sets the applicable credit for each vehicle type that qualifies. The credits range from $250 to over $3000 depending on the make of the vehicle. There is also a phase out provision. The credit is designed to encourage sales up to 60,000 new vehicles of each type. Apparently, after this figure has been reached, the credit on that particular vehicle type will cease.

The vehicles must be purchased new and the original purchaser must be using them for his own personal use in order to claim the credit. The program is designed to provide some encouragement to buy the hybrid vehicles to lower income taxpayers. It must be assumed that higher income tax payers can afford to purchase hybrid vehicles and benefit from their energy savings without a credit incentive. This point is made because if you are subject to the Alternative Minimum Tax (ATM), you can not claim this credit.

Some examples of the types of vehicles covered by the credit include $250 for the Chevrolet Silverado 2WD, $650 for the Saturn Vue Green Line and $3150 for the Toyota Prius. The complete list of eligible vehicles can be seen on the IRS website.

The credit is claimed on Form 8910, Alternative Motor Ve...

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