The Qualifications For a Tax Credit on a Water Driven Car
When you drive a car that was fueled by both gas and water, there are a lot of benefits involved. You will be helping the environment, since these types of cars burn much cleaner. You can save a lot of money, not only on the amount you spend at the pump, but also when it comes time to pay Uncle Sam.
When you drive a car that runs on a mix of water and gas, you are driving a hybrid. Now, when you hear the word hybrid, you are probably thinking of a Prius or some similar car that runs partly on electricity. But cars that run on a combination of water and gas are also considered hybrids. And in 2005, the lovely folks at the Internal Revenue Service did something right for a change, and starting giving rewards for those who drove cars that are "green," or in other words environmentally friendly.
If you have adopted green technology, you can get up to two thousand dollars for a passenger car, or up to 50,000 dollars for a truck. Here are the guidelines:
The maximum deduction you can claim for a vehicle that is properly deemed as being fuel-friendly is:
1. 50,000 dollars for a truck or van with a vehicle weight rating of more than 26,000 pounds or a bus with a seating capacity of at least 20 adults. This excludes the driver
2. 5,000 dollars for a truck or van with a gross vehicle weight rating that is more than 10,000 pounds but does not exceed 26,000 pounds.
3. $2,000 for a vehicle not included in the first two instances
In order to make these tax claims, you will have to show installation and maintenance receipts for your cars that are powered by water.
Want to learn how to run your car on water and start getting tax and gas savings? Check out a review of all the top water gas conversion guides here
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