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Wednesday, November 10, 2004

The IRS wants to help you buy a car.

New legislation enacted for this year, will enable taxpayers to continue to claim an adjustment to income up to $2,000. So if you purchase a NEW hybrid vehicle the government will help you buy it.

Qualifying Vehicles

You will notice that neither Honda has been certified for 2005, but I can’t think of any reason why the IRS will not certify them in the near future.

The hybrid cars cost considerably more than their gas guzzling counterparts, but with gas over $2.00 a gallon, 60 miles to the gallon is worth something.

NOTE: Just remember that a $2,000 adjustment is only worth roughly $500 in the 25% tax bracket.


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