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Old 05-11-2012, 09:10 AM   #54
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Member#: 92634
Join Date: Aug 2005
Chapter/Region: RMIC
'07 Land Cruiser
'12 RAV4 EV


Originally Posted by scott_gunn View Post
Plus, over 6 years gas is very likely to average > $4. So you are being generous.
That's what I figured, but I thought it'd be better to stick to conservative figures.

Originally Posted by SCRAPPYDO View Post
Great analysis shik!!

I think you may have tipped the scales in your favor a bit by using the 4x4 loaded rav4 but very thorough none the less
I picked the Limited because of the option to get navi and Entune, with which the EV is equipped (among other trickery like LED headlights), and the V6 model because the EV is quick: 7 seconds to 60 mph. I would have picked 2WD but won't let me configure a Limited, V6 RAV4 as such.

Originally Posted by SCRAPPYDO View Post
Also you taught me something. The electric vehicle incentive starts to taper off from 7500 dollars if you make more than 55k jointly? Really ? Do I understand that correctly? Does it go to zero at a certain income level?

Since you are a physician without telling us how much you make since it is none of our business how much of that incentive can you expect?
It's actually the opposite: the Federal tax credit is for $7500, regardless of one's income. The Feds won't give you money outright if your pre-credit tax liability is less than $7500, however, so you'll only receive partial credit if your AGI (married, filing jointly) is less than ~$55k. If you make more than that, and your tax liability is therefore greater than $7500--which will most definitely be the case even in fellowship for me, let alone as an attending radiologist--then you get the full benefit of the tax credit.
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shikataganai is offline   Reply With Quote