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Been doing a bit of searching on the google and could not find much for this car. Do you think it will qualify for the federal hybrid tax credit?
 

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I don't think so because I believe the car needs to have an epa rating of 40mpg or greater. When I got the insight, there was no sales tax, as the car is a hybrid that gets 40/43 mpg. If I am wrong, somebody please correct me.
 

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Per the IRS site, Honda Hybrids purchased past Dec 2008 are not eligible for a tax credit :blink: Source found here under the Honda tab. And now I'm dissappointed, because the new car tax credit is also gone, as of 1 Jan 2010, as read here
 

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Tax Break on Hybrid Cars

Guys, this just hit me. Don't we get a tax credit/break for owning a hybrid car? I asked myself that question and trolled around the net. This is what I found. It's not definintive, because I'll find out when I do my taxes next year. But here are some qualifications.

The original use of the vehicle commences with the taxpayer.
The vehicle is acquired for use or lease by the taxpayer, and not for resale. (The credit is only available to the original purchaser of a new, qualifying vehicle. If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit.)
The vehicle is used mostly in the United States.
The vehicle must be placed in service by the taxpayer after December 31, 2005 and must be purchased on or before December 31, 2010.


So, by this, we may qualify. This is exciting, because we could quality for a 500-3000 dollar credit back! Now the Cr-z is a new car. So it wasnt on any list I could find for qualifying cars..YET! But I'm hopeful. I mean anything above 500 bucks is a real plus. If any of you have more info on this, post it up! Btw, since the CR-Z is new, we may get a decent return on it. I noticed that the older a car gets, the less it gets back. Like if you bought a prius in 2006, each year you get less after that or something. I'm not sure.
 

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Additional Information:

The Energy Policy Act of 2005 replaced the existing alternative fuel tax deduction with a tax credit but it's been quite some time since we've taken a look at this incentive. After the excitement of the "Cash for Clunkers" program, some people may have taken advantage of this incentive by putting a hybrid vehicle into service.

How the credit works: Taxpayers can claim the full tax credit until the manufacturer has sold over 60,000 eligible vehicles. Once it hits that figure, the tax credit is slowly phased out. For the current quarter, in which the 60,000th vehicle is sold, and the next quarter, taxpayers can claim the full tax credit. For the two subsequent quarters, taxpayers can claim 50% of the full tax credit. Then for two quarters they can claim 25% of the full tax credit. Then the tax credit expires.

Here's how each of the manufacturers are doing:
- Chrysler - full tax credit available
- Ford - 25% credit until March 31st, 2010
- GM - full tax credit available
- Honda - tax credit expired December 2008
- Mazda - full tax credit available
- Mercedes - full tax credit available
- Nissan - full tax credit available
- Toyota - tax credit expired August 2007


So, now I dont know. Ohwell, i'm still hoping.
 

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tax stuff

i also saw its depending state by state for tax incentives. i havent bought the car yet but will within the next before 2011.

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

that link doesnt talk about 2011 vehicles but according to this if it gets over i think 30 mpg as a hybrid whether plug in or not we do get tax credit. i could be wrong but let me know what yall think. also never owning a hybrid im a bit confused--if we were qualified how do the incentives work? do we get taxed less on the brand new car, or can claim it on our taxes n get a bigger return?

also-does any company yet make a intake for the crz?

jill
 

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Per the IRS site, Honda Hybrids purchased past Dec 2008 are not eligible for a tax credit :blink: Source found here under the Honda tab. And now I'm dissappointed, because the new car tax credit is also gone, as of 1 Jan 2010, as read here
True. Honda long ago surpassed the 60K Hybrid units sold = 00 Tax "Credit". But if you bought a new car this year, it was subject to state taxes and those can help reduce your fed tax. Make sure if you are using Turbo tax or a other tax service, you claim those extra state taxes on a new car purchase. It will help. Depending on your tax situation, sometimes help a lot. Make sure you claim all your state sales taxes above and beyond any state income tax.

Scott
 

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Actually claiming taxes doesnt work anymore. A bill was passed earlier in the year that changed a few tax laws starting with 2010 tax filings. A way to make up some of that deficit for sure!
:staffmeeting: OUch. That will be painful. No State income tax in Washington, but 8.4% sales tax. Go to extremes in Quicken to itemize sales tax on everything to import into turbo tax. Always made a difference especially if buying a car, appliances etc. Got my interest peaked. Gotta go and download my early copy of Turbo Tax do a prelim on my tax and see what she says...

Scott
 

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:staffmeeting: OUch. That will be painful. No State income tax in Washington, but 8.4% sales tax. Go to extremes in Quicken to itemize sales tax on everything to import into turbo tax. Always made a difference especially if buying a car, appliances etc. Got my interest peaked. Gotta go and download my early copy of Turbo Tax do a prelim on my tax and see what she says...

Scott
In CA not only do I pay 8.5% sales but also have a state income tax and down in L.A. they pay 9.5 sales I believe, have more "fee's" than anybody can count, DMV registration cost highest in the nation and yet or state is STILL broke and our roads are crap.

Sorry for the rant, after our election on Tuesday I am dumb founded by the results. Only 3% of California's think the state is going in the right direction yet the same people get elected time and time again. It is mind blowing.:nervous::cursing:

If it wasn't for my wife I would move to some place like Florida.......:wiggle:
 

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After living in CA, you'd melt every day April through October in the FL humidity. And, with taxes low and going lower in FL, the not-so-good FL roads and minimal services except in the richer areas aren't going to get better.
The FL was a nod at Bizzy.

At least FL has an excuse and reason unlike CA where taxes and "fees" are sky rocketing and yet are infrastructure is crumbling and state government employees, with the exception of capitol hill of coarse, are being hit with massive pay cuts.
 

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...yet the same people get elected time and time again. It is mind blowing.:nervous::cursing:

If it wasn't for my wife I would move to some place like Florida.......:wiggle:
The Governor, Lieutenant Gov., Attorney Gen., Insurance Comm., and State Superintendent were all not incumbents. Most voters are happy with their local reps and dissatisfied with the overall performance of the state government. Passing Prop 25 and ousting Ahhnold and his ability to veto should go a long way to rectifying many of our problems.
 

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The Governor, Lieutenant Gov., Attorney Gen., Insurance Comm., and State Superintendent were all not incumbents. Most voters are happy with their local reps and dissatisfied with the overall performance of the state government. Passing Prop 25 and ousting Ahhnold and his ability to veto should go a long way to rectifying many of our problems.
It is the reps and there entitlement programs, ear marks, and kick backs along with the unions and there pensions and benefits that Brown gave them power to infiltrate back in the 70's that we are now on the hook for and lets not forget special interest groups, that is what is killing this state. In other words-spending

Of coarse SOME of the constituents are happy as long as they can have the "free candy" as long as someone else gets to pay the bill. The districts are also drawn to target specific demographic that does not represent CA as a whole. These projects here and there that are paid for by 5 cent tax increase on gas here, or a DMV fee for state park there, or a increase in property tax there for a bicycle path all add up. Then once all this dog piles, everyone stands around with this bewildered look on there face and ask, "What happened?" then gets mad about it, then they turn around and elect the same people again to continue spending in which they raise taxes and fees on people and business to try to cover it. Those people and business leave, or they stop spending/ investing to pay the taxes and fee's or they move out of state which in all cases brings revenue down and, in some cases, raises unemployment which also increases spending at the same time eliminates revenue even quicker, then the whole cycle repeats. The definition of insanity.

With increasing taxes on EVERYTHING and as far as doubled and with the assistance of the federal government with bailouts why is this state still broke and declining when we are one of the highest taxed/ fee states in the Union?

Prop 25 is a mistake. All it does make it easier for congress to raise taxes and fee's, eliminates your reps voice and gives legislators a pass to make half assed budgets. Makes "fee's" easier to to create and increase. The only thing great is they don't get paid if they don't pass a budget but which gives way to "get anything through" to get paid and ear marks are now easier. Now if they maintained the 2/3 and no pay until the budget is balanced and passed then it would work taking in prior years revenue. As it stands before 25, they could pass a budget that wasn't balanced even though they still needed 2/3 and you think it will get better now with just a simple majority?

Arny was nothing more than Grey Davis with an "R" in front of his name- He really sucked and did more harm than good.

The only fix for CA is spending must be cut on entitlement programs or eliminated. State union members are going to have to start paying and contributing to there benefits and retirement. Water has to be turned back on to the central valley, start lowering taxes and regulation on companies and make this state business friendly, and start drilling again.

This could be the richest, wealthiest state in the union, but unions and special interest groups have too much power, too many people want something for nothing, and no one is serious enough to make the tough choices that are needed to get the state back on its feet because of what I stated above. If it weren't all true, this state should be swimming in cash with all the taxes, fee's and regulations that have been passed over the past fifteen years. Instead, the more taxes and fees are passed the deeper the state declines. Other states are doing far more with much, much less. All you have to do is look at Chris Christie and see how he is turning New Jersey around.

Proof is in the pudding.
 
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