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No tax credit for Tracy

Discussion in 'Gen 2 Prius Main Forum' started by tracysbeans, Jan 12, 2006.

  1. tracysbeans

    tracysbeans Member

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    I just got bad news today from my tax accountant. Looks like after she did some more research I most likely won't be eligible for the tax credit. :(

    Kinda disappointing because that was the reason at this time I chose to buy a Prius. I figured the $3,150 would cover the premium portion of the Prius. I even told her I needed to know because if the answer was no on me getting the tax credit then I wouldn't buy it. I can't blame her to much because she did try to check into it as much as she could at the time. I also mentioned to her that I would be waiting up to 6 months to get the car. She didn't know that I was going to go out a week later and get my car. (When I want something I GO get it :p )

    BUT now after the fact even though I will lose out moneywise I'm still glad I got my Prius. I knew getting it wasn't all about the money. I have just proven that to myself right now with this issue.

    So I just hope someone can feel my pain. I work my nice person off and get screwed by the government. :angry:

    I'm even beginning to like my interior color.

    So ALL is good. Just hoping someone can feel sorry for me. On paper I make alot of money but as anyone with a business knows when you keep on re-investing it back into your business it doesn't feel like your making much.

    I guess it all panned out. If she had told me I wouldn't get the credit I wouldn't have my nice new car.

    I still hope that somehow I am eligible for the credit but won't count on it at this point.

    Tracy
     
  2. SomervillePrius

    SomervillePrius New Member

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    What's the reason you don't qualify? AMT?

    I'm waiting for delivery and I was counting on those $3k as a nice bonus next year!
     
  3. 2Hybrids

    2Hybrids New Member

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    so why was it you weren't eligible?
     
  4. tracysbeans

    tracysbeans Member

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    I make to much money. (On paper anyway) :unsure:
     
  5. 2Hybrids

    2Hybrids New Member

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    Time to hire a new accountant... <_<
     
  6. maggieddd

    maggieddd Senior Member

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    sorry to hear that Tracy, but perhaps you should have researched it better, seems like in a few days you went from getting Ford Focus to Prius package #1 to package #7 and then you took the interior color you didn't like and you even thought about selling your Prius to get grey interior. It only shows that you were to excited about everything. You should have thought it out more. Sorry, not trying to make you feel bad but now you are part of the family :)
     
  7. Kiloran

    Kiloran New Member

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    I'm glad to hear that you are still happy about your purchase.

    I cannot agree with your assertion that the Government screwed you.
    The credit is an incentive, not an entitlement and you clearly knew about its limitations before you purchased.
    Your accountant made a mistake that led you to make a different decision than you would have otherwise but that is a decision that you are now quite happy with.

    I do hope your final AMT calculation allows you to collect some or all the credit.
     
  8. tracysbeans

    tracysbeans Member

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    Yeah but I called up my tax accountant right away before I even started looking for a Prius. She told me to give her some time to research into it. Which I did. SHE called me back and said ALL was good and gave me the green light.

    What was I suppose to do? I know nothing about taxes that's why I pay someone else to do it.

    I just wanted someone to feel my pain. That's all. I don't regret getting my Prius. The seat cushion situation I can handle one way or another. Or not do anything about that. It's a small issue.

    I mean if was completly unhappy about it I could just sell it. I don't regret buying it. Just sucks I can't get the credit. That's all.
     
  9. QED

    QED New Member

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    You are making it harder to feel sorry for you. :D :D

    I'd say, press your tax attorney for clarification. She still sounds iffy.

    If no credit, oh well. Don't you still get to use the car as a business expense?
    Anyway, hope your business is doing well.

    I was a bit paranoid about the credit and really checked it out. But then I don't make much money (on paper or otherwise :lol: ).
     
  10. maggieddd

    maggieddd Senior Member

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    Just forget it and be happy, don't think about it. What's the matter with the seats that you need cushions too hard?
     
  11. QED

    QED New Member

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    Lots of us have been burnt by impulse buying. I sure have. I know the pain.

    I'm sure you will be happy with the car. I sure am. However my wife is feeling more pain because of the relatively large expense of a new car, but she's getting used to it. :D
     
  12. tracysbeans

    tracysbeans Member

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    I though the reason they were giving people the credit was that you were helping out the enviroment by buying a hybrid.

    I think EVERYONE should get it regardless of their income.

    There's got to be someone on here that has their own business and knows what it's like to make money but only on paper?? I can't be the only one.

    So I must be wrong about this credit. It's just for poor people???
     
  13. tracysbeans

    tracysbeans Member

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    I am going to just forget about it. Just wanted to vent about it. I hope that's ok.

    I can't go without seat cushions. The seats would get TO dirty. I have a dog that likes to go for rides.

    I want to order some black seat cushions from GT Covers BUT now I'm being told that when they are left on for years and removed the seats get messed up. If that's the case I wouldn't want to ruin the car with them.

    So as you SEE I'm being careful now and researching on getting seat cushions. When I called GT Covers they said in one breathe that I could ruin my seats with them. Then the next they are saying it won't. :huh:

    For now I just have some black seat cushions on the fron 2 seats that my daughter let me borrow. Don't want to rush on that too.

    Also I need to wash my car. Is there special stuff I should use?

    maggieddd, No matter what interior color I had gotten I would be wanting seat covers. Just so the seats are protected as stay in good shape. That's why I wasn't concerned about doing Pakage #8 with the leather. The seats would just have been covered anyway.
     
  14. QED

    QED New Member

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    Please, please. I was just kidding around. I had my own business years ago and know how difficult it can be. Didn't mean to upset you. I get into trouble with my strange sense of humor sometimes.

    I think everyone should get the credit also. The tax code is disfunctional. The AMT is affecting far to many people these days.
    Please enjoy your car.
     
  15. tracysbeans

    tracysbeans Member

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    Yeah I know you were just giving me a hard time! ;)

    I gotta check into this tax credit and she why it's not for everyone.

    I don't feel me buying my Prius was an impulse buy. I have been checking into them since last year. I'm very very careful with my money personally and businesswise. So buying a Prius is my gift to myself for all the hard work I do. I'm not much into other toys and expensive jewlery or anything. At my age now I have pretty much everything I need unless something were to break down. So had to find one toy to invest in! At least it was something that can hold it's value more than others!
     
  16. QED

    QED New Member

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    I think the reality is that Hybrids are the recipient of tax breaks meant to benefit a US auto industry that is behind the curve in hybrid development and needs to sell more of them.
    Another aspect of a disfunctional tax code.
     
  17. andyman68

    andyman68 Member

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    Are you serious about selling it?

    Andy


     
  18. kente777

    kente777 New Member

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    May I recommend Wet Okole custom seat covers? (wetokole.net)

    I just ordered a set yesterday for my new Prius. They are a bit pricey, but they are extremely nice seat covers. They are custom fit, and are waterproof. Great for your dog!

    Ken
     
  19. tracysbeans

    tracysbeans Member

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    Well people gotta have some money though to fork out $30,000. So if the rich folks can do that and get a credit then wouldn't more rich people buy them up?

    It just doesn't make sense and I plan to voice my opinion on it.

    Maybe I should stop all my hard work and go on welfare and sit back and eat some bon bons. :angry:
     
  20. Kiloran

    Kiloran New Member

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    Energy Policy Act of 2005 beginning on page 1391.