Unlocking EV Savings: Combining Federal and State Incentives How the Federal EV Tax Credit Works According to CNET, apart from the federal government, many states additionally offer tax breaks worth thousands of dollars that can be combined with the federal discount for prospective EV buyers. The federal tax rebate for electric vehicles, which can be … Read more
Unlock Tax Savings: Get Charged Up with Used Electric Cars Transitioning from New to Used Electric Vehicle According to The U.S Sun, starting January 1, 2023, buyers of certain used electric vehicles can qualify for the used clean vehicle tax credit, capped at $4,000 or 30% of the purchase price, if bought for $25,000 or … Read more
In 2024, the EV Tax Credit offers a big discount for electric car buyers, but the list of eligible cars is small. This is because the rules for qualification got stricter, focusing on where battery materials are sourced and where the batteries are made. However, experts believe the list will grow over time as automakers … Read more
New Guidelines Allow Electric Vehicle Buyers to Avail Tax Credits as Point-of-Sale Discounts In a significant shift, the Internal Revenue Service (IRS) has announced a change in the process of Electric Vehicle (EV) tax credits, allowing buyers to receive up to $7,500 as an instant discount at the point of sale. The updated guidance aims … Read more