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  1. #1
    Guest

    IRS Grants Deduction for Ford's Hybrid

    reprinted from LA Times, 12-14-04

    IRS Grants Deduction for Hybrid From Ford

    LA Times, 12-14-04 (from Bloomberg News)

    Ford Motor Co.'s gasoline-electric Escape sport utility vehicle became the first hybrid built by a U.S. automaker to qualify for a $2,000 U.S. tax deduction that encourages sales of low-pollution cars and trucks.

    Buyers of new 2005 Escapes can claim the income tax deduction for the year in which the vehicle is first used, the Internal Revenue Service said Monday. Toyota Motor Corp.'s Prius hybrid car and Honda Motor Co.'s gasoline-electric Civic and Insight cars have qualified since 2002.

    The IRS in 2002 expanded the deduction to hybrids from electric vehicles. Governments have been pushing automakers to boost fuel-efficiency and reduce pollution emissions with technologies such as hybrids and hydrogen fuel cells.


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  3. #2
    Guest

    IRS Grants Deduction for Ford's Hybrid

    Terrific news! Thanks for the reprint, Steve.

  4. #3
    Guest

    IRS Grants Deduction for Ford's Hybrid

    Yay!

  5. #4
    Guest

    IRS Grants Deduction for Ford's Hybrid

    I've been waiting for this news... spread the word. I asked my CPA friend, who owns three cars, if he filed any hybrid rebates for clients last year. Nope was the answer. He did agree that he would spread the word in '05.


  6. #5
    Guest

    IRS Grants Deduction for Ford's Hybrid

    Excellent news! Now if we can work on getting the mile per gallon into the mid to upper 30's this would be an excellent car!

  7. #6
    Guest

    IRS Grants Deduction for Ford's Hybrid

    Ford has my attention and I plan on buying one in the near future. How about heated seats for the wife?

  8. #7
    Guest

    IRS Grants Deduction for Ford's Hybrid

    I've been trying to locate any tax deduction information in the state of New York. My last research, which I cannot find again (regrets greatly), told me that state tax deduction in the state of New York has expired as of last year: 2004 is the last year you can claim for tax credit or deduction by buying hybrid cars. any information or prediciton on this aspect, anybody? Please point me to the right website. The one in this web, New York Energy Department does not have such information any more.

    Thank you~

    I have my eyes on Ford Escape Hybrid. Does anybody have any tip on which dealer I have to go in the New York City area?

    Thank you again~

  9. #8
    Guest

    IRS Grants Deduction for Ford's Hybrid

    I can report that I've received the certificate for my Oregon $1500 tax credit as of last week.

  10. #9
    Guest

    IRS Grants Deduction for Ford's Hybrid

    Now if the deduction for the '05 Civic Hybrid would be completed I would certainly be happy as well. There's no reason to believe it wont be but the fact that so many other cars are getting the "go ahead" on the deduction and the HCH seems to remain mute somewhat bothers me.

    Any ideas?

  11. #10
    Guest

    IRS Grants Deduction for Ford's Hybrid

    I recall reading somewhere on the 'net that when you factor in the fuel savings *and* the IRS deduction you recoup the $3000 "hybrid premium" in a little over 2 years.

    Anyone else recall seeing that?

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