Other Vehicle Tax Credits

Source: S S A / I R S R e p o r t e r, s u m m e r 2 0 1 0, Page 6

Plug-In Electric Vehicle Credit
Internal Revenue Code Sections 30 & 30D provide credits for
certain Plug-in Electric Vehicles. Qualified vehicles may include
low-speed vehicles, passenger vehicles, light trucks, and certain
other vehicle types. The amount of the credit varies based on the
type of vehicle and applicable credit.
n IRS provides more information on IRS 30 and 30D at
www.irs.gov/businesses/article/0%2C%2Cid=214841%2C00.html

Alternative Fuel Vehicle Refueling Property Credit
For property placed in service in 2009 and 2010, the alternative
fuel vehicle refueling property credit is increased. For property
that relates to hydrogen, the maximum credit per location is
increased to $200,000. For all other property, the credit percentage
is increased to 50% and the maximum credit per location is
increased to $50,000 ($2,000 for nondepreciable property).
For more information, see Form 8911, Alternative Fuel Vehicle
Refueling Property Credit.

About the Author:

Lauryn Charles owns and manages Accountable Financial Services Group, Inc., founded in July of 2007. Lauryn has many years of experience working with small business owners in the field of accounting, banking, and financial services. An accounting graduate with an MBA in International Business from Florida Atlantic University, Ms. Charles is an expert tax preparer and accountant. She is a Registered Tax Return Preparer as designated by the Internal Revenue Service. Ms. Charles is a member of the Pompano Beach and Deerfield Beach Chamber of Commerce. She is on the board of directors of multiple non-profit organizations, she is the co-founder of Pompano’s Young Professionals, and serves many other charitable organizations in the area.

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