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Tax Credit Consulting: Hybrid Vehicles Derby KS

As part of the Energy Policy Act of 2005, hybrid vehicles along with energy efficient home improvements and solar energy were made eligible for substantial tax credits. Tax credits are especially valuable as they directly reduce the amount of tax owed rather than reduce the taxable amount as is the case with deductions.

Mr. Randy Yeisley (RFC®)
(316) 719-2900
PO Box 12797
Wichita, KS
Company
Freedom Advisory Group, Inc.
Qualifications
Education: Randy began his career in financial services in 2004 after a 20-year career in the telecommunications industry. After spending years accumulating his own nest egg, he realized he knew very little about protecting and growing his retirement assets. Randy
Years of Experience: 4
Membership
IARFC, MDRT, NAIFA
Services
Invoice, Estate Planning, Portfolio Management, Retirement Planning, Tax Returns, Seminars Work

Data Provided by:
Jackson Hewitt
(316) 681-3278
1712 N. Nelson Drive, Ste B
Derby, KS

Data Provided by:
MOORE'S TAX SERVICE
(316) 524-7677
1614 MILLS ST
WICHITA, KS
Prices and/or Promotions
$55.OO FED AND STATE

A-Ok Income Tax Serv
(316) 682-6242
1547 S Oliver St
Wichita, KS
 
Liberty Tax Service
(866) 871-1040
1111 S Rock Rd
Wichita, KS

Data Provided by:
Mrs. Angela L. Tejeda (RFC®), MBA
(316) 721-5191
8307 W. 34th St. N
Wichita, KS
Company
Tejeda Financial / Money Concepts
Qualifications
Education: BA - PsychologyMBA
Years of Experience: 10
Membership
IARFC, FPA, SFSP
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Charitable Planning, Education Plan, Charitable Foundations, Asset Protection, BuySell, LiabCover, Compensation Plans

Data Provided by:
Flexible Income Tax Services - FITS!
(316) 304-1132
264 Village Lake
Derby, KS
 
Accounting Plus
FAX316-462-0886
P O Box 187
Haysville, KS
 
A 1 Tax Service
(316) 264-0349
3555 E Douglas Ave Ste 50
Wichita, KS
 
Neighborhood Income Tax Service
(316) 684-5380
1625 S Rock Rd Ste 123
Wichita, KS
 
Data Provided by:

Tax Credit Consulting: Hybrid Vehicles

Hybrid Vehicle Tax Credit

A hybrid vehicle is an automobile that uses electrical power coupled with a gasoline engine to produce a more fuel efficient power plant. The Hybrid Vehicle Tax Credit was designed to encourage the sales of these vehicles.

As part of the Energy Policy Act of 2005, hybrid vehicles along with energy efficient home improvements and solar energy were made eligible for substantial tax credits. Tax credits are especially valuable as they directly reduce the amount of tax owed rather than reduce the taxable amount as is the case with deductions. These tax credits are a prime example of the use of tax credits to encourage activities deemed to be in the best interest of the public. The Hybrid Vehicle Tax Credit is the common name for the part of the Energy Policy Act dealing with hybrid vehicles.

The importance of reducing the dependence of the United States on fossil fuels was the prime motivation for a generous tax credit for hybrid vehicles. The credit varied from qualified vehicle to qualified vehicle. In some cases, the credit reached as high as $3500 dollars. The hybrid vehicles tend to be a bit expensive and there is still not wide spread acceptance of the technology, so the generous credit was intended to spur sales. The IRS set the amount for each qualified vehicle.

The credit had a unique phase out method. The credit was intended to spur sales of 60,000 vehicles of each various qualified type. When the sales figure reached 60,000 for any individual model, the phase out began. In the quarter after the mark had been reached, the credit remained at 100%. In the 2nd and 3rd quarters after the mark had been reached, the credit dropped to 50%. In the 4th and 5th quarters after the mark had been reached, the credit dropped to 25%. After the 5th quarter, it ended completely.

The Hybrid Vehicle Tax Credit has had its intended impact on the sales and even the development of alternative energy vehicles. Some of the models have reached t...

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