Petroleum-based fuels are ideally suited for internal combustion engine technology, which has powered most cars and trucks for over a century. Burning fossil fuels for over a hundred years however has done some serious damage to the ecology of the planet. Enter the electric vehicle with lower emissions, but correspondingly lower power. Finally, both technologies have come together in hybrid vehicles, also known as hybrid electric vehicles or HEVs. [click to continue…]
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It’s not by chance that many of the vehicles getting better gas mileage are hybrid-electric vehicles (HEVs), also known as hybrid vehicles, or simply hybrids. Hybrid car mileage tends to be much better than conventional cars because they are built in a variety of configurations to achieve different objectives. [click to continue…]
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If you buy a new hybrid car, you could be eligible for a one-time federal income tax break of as much as $2,000.
Several models of hybrid car placed in service by the end of 2005 are eligible for a clean fuel deduction of $2,000. Those put in use during 2006 could be eligible for a $500 federal income tax deduction.
Under current legislation vehicles purchased after 2006 will not be eligible for a deduction. If you purchased a hybrid car before 2005, you can submit a claim for the deduction by filing an amended tax return for the tax year in which the vehicle was purchased.
The following requirements must be met for your hybrid car to qualify: [click to continue…]
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