Buy a Ford Escape Hybrid before 2006 and you can take a $2,000 deduction on your federal income taxes.
MATTHEW T. STALLBAUMERIf you buy a hybrid before 2006, you can take a $2,000 deduction on your federal income taxes. Basically, this deduction will reduce your federal taxable income by $2,000. For hybrids bought after Jan. 1, 2006, the recently enacted energy bill set up tax credits ? ranging from $250 to $3,400, depending on the vehicle's fuel economy. The credit would go toward your tax liability, the amount you owe before any withholdings.
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