GreenHybrid Interactive Hybrid Car Resource
Home Discuss Articles Compare Share Shop
GreenHybrid.com   Hybrid Car Forums   Tech Information   Mileage & Specs   Photo Gallery   Buying Guide  
GreenHybrid Mileage Database - Click here to track your MPG! Join Hybrid car discussions today - Create a FREE GreenHybrid Account

Go Back   GreenHybrid - Hybrid Cars > Hybrid Cars > Toyota Motor Corporation > Toyota Camry Hybrid

Reply
 
Thread Tools Search this Thread
  #1 (permalink)  
Old 02-15-2007, 03:35 PM
Rcommander's Avatar
Advanced Technology-PZEV
 
Hybrids: Toyota Camry Hybrid
Posts: 102
Default Federal Tax Issue

Guys I got my TCH on Sept 15 2006 and my tax attorney told me I will only get back $750?!

Anyone else heard anything concurring or dissenting to the fact?

help is much appreciated.

p.S. Checkout my new website thekguru.com and if you know a lot about cars then sign up and help out people in the automotive section.

.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #2 (permalink)  
Old 02-15-2007, 05:01 PM
Enthusiast
 
Real Name: Marvin
Hybrids: 2007 Toyota Camry
Posts: 9
Default Re: Federal Tax Issue

Your tax attorney may be misinformed. There are IRS bulletins that say you get the full credit $2600 if you purchase and put it in service thru September 30, then it drops to $1300. I have computed it using TaxAct and TurboTax software and both give me the full credit of $2600. I purchased and put it in service on September 2, 2006. What tax software is he using?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #3 (permalink)  
Old 02-15-2007, 05:02 PM
Rcommander's Avatar
Advanced Technology-PZEV
 
Hybrids: Toyota Camry Hybrid
Posts: 102
Default Re: Federal Tax Issue

i have no idea about the software but i think its time for a new attorney.

.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #4 (permalink)  
Old 02-15-2007, 05:04 PM
Enthusiast
 
Real Name: Marvin
Hybrids: 2007 Toyota Camry
Posts: 9
Default Re: Federal Tax Issue

Also, the credit cannot exceed your tax liability.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #5 (permalink)  
Old 02-15-2007, 05:32 PM
Active Enthusiast
 
Real Name: Marc
Location: Arlington Heights, IL (Chicagoland)
Hybrids: 2007 TCH - Desert Sand - Nav & Leather
Posts: 210
Default Re: Federal Tax Issue

You might be getting dinged due to the AMT.

Here's a previous thread discussing this in length.

http://www.greenhybrid.com/discuss/s...ad.php?t=12090
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Topic Starter Forum Replies Last Post
How to get the federal tax credit? xoham Honda Civic Hybrid 10 12-12-2006 01:58 PM
Federal Tax Credits for Hybrids? kcrossley General Forum 5 08-12-2006 09:24 PM
Federal Tax Credit - What's wrong with this picture? kcrossley Honda Accord Hybrid 4 07-27-2006 09:53 AM
New Energy Bill: Tax Credits for Hybrids Walter General Forum 39 09-11-2005 10:39 AM
Question about federal tax rebate ? pete4www General Forum 11 08-28-2005 03:47 PM


All times are GMT -7. The time now is 09:49 AM.


Home | Hybrid Discussion Forums | Hybrid Articles Archive | Mileage Database | Hybrid Photo Galleries | Compare Vehicles
Terms of Service - Privacy Policy - Advertising
GreenHybrid.com, Copyright 2008
InternetBrands.com Automotive Network

SEO by vBSEO 3.2.0

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51