Re: Tax Credit Eligibility
Just finished some last minute adjustments to my return related to 2006 expenses incurred for a suspended business and as it turns out, the "value" of my HiHy just went up to $1,400 of the credit. As it turns out, I would have been better to have simply kept the business vehicle rather than liquidating it and moving ot the HiHy to the tune of about $3K (without the 179 re-capture and the removal of the $1,400 credit I would have gotten $3K MORE than I did with the HiHy). I guess in hindsight, I should have done more complete research before moving from the Lexus GX to the HiHy. Ended up with less of a vehicle and more cost (up front). Well, at least the HiHy is now getting the "acceptable" ~27/28 MPG fuel economy (vs. the 19MPG of the Lex) so based on these projections the cost HiHy will have "broken even" after only another 6 years based on a $3/gallon cost (Note: working form home this vehicle is only driven about 12K miles/year). argh!
Last edited by ndabunka; 04-07-2007 at 11:51 PM.
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