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    Going Green: Saving and Using Fuel

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    We have tax credits for going green like purchasing new cars in general, and credits that promote energy efficient homes and the credit for hybrid cars. There is also the extra deduction available to large SUV's. Does it make sense for our tax laws to promote saving fuel as well as guzzling fuel at the same time?

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    Solution Preview

    This has been twisted over the years. The reason why it sounds like the tax credits are contradicting each other is because of their history. The credit for large SUV's wasn't really designed to be used the way it is today. When this credit was first enacted, it applied only to farmers that were small business owners. The credit was created in order to encourage the farmers to buy ...

    Solution Summary

    This solution provides a detailed discussion regarding energy efficient tax credits, going green, and fuel tax credits. An in-depth analysis is provided determining if it makes sense for our tax laws to promote saving fuel as well as guzzling simultaneously.