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 The answer is HYBRID

Originally, under the federal tax code, individuals could claim a special deduction for the "incremental cost" of permitting a motor vehicle to be propelled by a "clean-burning fuel." Hybrid cars that qualified for the deduction included the Honda Accord Hybrid, the Ford Escape Hybrid, the Mercury Mariner Hybrid and others.

Beginning in 2006, a new law changed the way these vehicles must be handled for tax purposes. The 2005 Energy Tax Incentives Act essentially repealed the deduction and replaced it with four new tax credits, which are complex but will prove to be more lucrative for many vehicle buyers. Ask your tax adviser for details.


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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.