Are any of you using this tax credit?

[Tony Shelton]

We have not reached the threshold to us this tax credit yet:

http://www.irs.gov/pub/irs-access/f4136_accessible.pdf

But they recently lowered the threshold. It's either around $18,000 in fuel per quarter or $18000 per year. It's confusing.

But if you do use $18,000 per quarter in fuel on your machines (not trucks) you can get a tax CREDIT of approximately $5k.

It may not be that much but it's something.

 

[Scott Stone]

I have used it for a long time. My beautiful accountant finds all sorts of stuff like this. How about a tax credit for purchasing environmental equipment.

 

[Tony Shelton]

Where is that?

 

[JBurd]

I don't think there is a minimum off road fuel use to get the credit is there? I've been planning on getting this and I'm no where near that much fuel in my machines.

 

[bigchaz]

I don't use the credit but you can get a deduction for the taxes per gallon if you keep track of the total gallons used

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[Scott Stone]

There is no minimum for Road tax. I think the Environmental credit is an Arizona thing, but I know that a couple of years it has been offered on the Federal level.

 

[Tony Shelton]

I don't think there is a minimum off road fuel use to get the credit is there? I've been planning on getting this and I'm no where near that much fuel in my machines.

I was told there was a $1k minimum credit that recently went down to $750.

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[Ron Musgraves]

The things you learn on pwi


Text me anytime for question 480-522-5227

 

[starbrite]

Excellent, thanks Tony, of course Scott is us using it. Any others that you know Scott?

 

[Lenny Schrecengost]

I used it last year. I need to submit it again for the last year. It has to be submitted within a year and nothing less then 5 gal amounts.

 

[Scott Stone]

I know Michael Hinderliter I us, because he wrote a cleaner times article. My guess is all the larger contractors are using it, because it can be quite a bit of money each year.

 

[Ron Musgraves]

I know Michael Hinderliter I us, because he wrote a cleaner times article. My guess is all the larger contractors are using it, because it can be quite a bit of money each year.

Now it can help more than ten people, thanks Scott


Text me anytime for question 480-522-5227

 

[Ron Musgraves]

How many are paying road tax they are exempt from?


Text me anytime for question 480-522-5227

 

[tomtucson]

I'm paying road tax in Az on fuel I don't owe.