The hybrid-car tax credit challenge
Toyota hybrid vehicle fans, circle Sept. 30 in red on your calendars. That's the day you must drive one of these fuel-efficient autos off a Toyota lot or give up half of the new tax break created to reward energy-conscious motorists. Thanks to the Energy Policy Act of 2005, drivers who trade their gasoline-only autos for cleaner-running hybrid vehicles now get a tax credit instead of a tax deduction. That's a welcome change, since a credit produces dollar-for-dollar tax savings.
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