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Credit Union (AXcess News) Washington - Ford Motor Co. (NYSE: F) got a huge break Tuesday when the Internal Revenue Service certified the model year 2006 Ford Escape Hybrid and the 2006 Mercury Mariner Hybrid vehicles as being eligible for the clean-burning fuel deduction. This certification means that taxpayers who purchase one of these hybrid vehicles new during calendar year 2005 may claim a tax deduction of up to $2,000 on Form 1040.

With gas prices reaching record highs earlier this year, efficient vehicles with smaller engines to help cut down on fuel costs. This is helping Ford%š May. Sales of Ford Motor Co.%š cylinder vehicles like the Ford Fusion and the Mercury Milan have almost doubled and now accounts for more than 20 percent of all Ford vehicles. The Ford Focus and Escape have also experienced brisk sales over the same period.

Merchant Credit Guide Co Under the current law, the clean-burning fuel deduction is limited to up to $2,000 for certified vehicles first put into service in 2005. Federal law allows individuals to claim a deduction for the incremental cost of buying a motor vehicle that is propelled by a clean-burning fuel. By combining an electric motor with a gasoline-powered engine, these hybrid vehicles obtain greater fuel efficiency and produce fewer emissions than similar vehicles powered solely by conventional gasoline-powered engines.

The Mercury brand of cars was aimed as an alternative for Ford car buyers. If you are a Ford buyer who can° level Ford or a Lincoln for your car, then the Mercury is a better alternative for you. level car, level Ford cars. Although they are not, and never will be, as luxurious as the Lincoln, they are also not as expensive. Mercury stands in between the two in terms of features, luxuriousness and price.

Apply Online For Credit Card This one-time deduction must be taken in the year the vehicle is originally used. The taxpayer must be the original owner. Individuals do not have to itemize deductions on their tax return to claim this deduction. This benefit can be taken as an adjustment to income on the Form 1040.

Not necessarily. After comparing online quotes at www.kanetix.ca, for the Honda Civic Hybrid, Chevrolet Silverado 1500 Hybrid, Ford Escape Hybrid and the Toyota Camry Hybrid it appears there is no one particular insurance trend when it comes to hybrid insurance rates. egos, the cost to insure a hybrid vehicle was neither consistently higher nor lower across the country.

By Card Credit Debt Debt Guide The amount of the deduction for the Ford Escape Hybrid and the Mercury Mariner Hybrid was set after the manufacturer, Ford Motor Company, documented for the IRS the incremental cost related to the vehicles electric motor and related equipment.

After comparing online quotes at www.kanetix.ca, for the Honda Civic Hybrid, Chevrolet Silverado 1500 Hybrid, Ford Escape Hybrid and the Toyota Camry Hybrid it appears there is no one particular trend when it comes to the insurance rates for hybrids. egos, the cost to insure a hybrid vehicle was neither consistently higher nor lower across the country.

Credit Repair The deduction for the purchase of a hybrid vehicle expires on December 31, 2005 under Section 1348 of the Energy Act of 2005. The deduction has been replaced by a tax credit found in Section 1341 Alternative Motor Vehicle Credit, also of the Energy Act of 2005.

Active Credit Credit Guide A complete list of vehicle models that have been certified for the clean-burning fuel deduction can be seen on the IRS web site at IRS.gov.

Credit Score Shares of Ford closed down 8 cents at $8.26 Tuesday.

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