Price drop on every Tesla model - $49990

You do not understand it correctly.

Your paycheck deduction has nothing to do with the credit qualification at all

At the end of the year, based on your income, you will have some number that is the amount of tax you owe. This is NOT relevant to your paycheck deduction, that comes later. It's just "You earned X, you owe Y"

If you paid less than that amount via deductions, you owe more. If you paid more than that via payroll deductions you get a refund.

But the tax credit comes in BEFORE that step.

It reduces the amount you owe BEFORE they even look at what came out of your check.

As long as that # is $7500 (and it is if your taxable income was over $54,000 filing single, or about $65,000 filing jointly/married) then you get the full $7500 credit taken off.


THEN they look at your payroll deduction, and decide how much your refund (or still owing) is.

Being non-refundable only matters if you made so little income you didn't have $7500 in liability to begin with (and again, your payroll deductions have no relevance to that) in which case the credit would offset whatever amount of liability you DID have dollar for dollar.



Just to throw some easy #s in for an example.

Let's say you made exactly the taxable income needed to have $7500 in tax liability for the year.

And you had, say, $10,000 taken out of your paycheck via payroll deductions toward federal income tax.

In a normal year, with no tax credit to claim, you would get a refund for $2500. Which is the 10k they deducted, minus the $7500 you owe. $2500 refund.

WITH the tax credit, that goes against your original $7500 of liability. You now have $0 in liability.

NOW they look at the 10k deduction you had...and you get a refund of $10,000 since you owe net $0.

So again- the amount of your payroll deductions is irrelevant to being able to get the credit because they don't even look at that until after the credit was applied.

Do you have a link to more info on this?

People are seriously comparing Bolt to Tesla??

Bolt has faulty batteries that Chevy refuses to fix.

Good luck with that.

I talked to a CPA, this type of credit is non-refundable, as someone who doesn't have other income (like from stock investment) and with mortgage interests. I don't see a way that I can get this credit unless I deliberately don't pay tax in my paycheck. If I understand it correctly, non-refundable credit only brings your tax owe to 0, and it will not give you money back.

What the fk are you talking about? They completely replaced my bolt with a bolt EUV. GM is way better than Tesla in terms of after sale.

One of the worst and unethical companies who will sale you a car and leave you out to dry once they have your money. Avoid like your life depended on it. Because it does. Self-crashing garbage.

People are seriously comparing Bolt to Tesla??

Bolt has faulty batteries that Chevy refuses to fix.

Good luck with that.

Test drove mid Model 3 in Santa Nutica l.a. bottomed it on the first dip. Stupid heavy cars so the suspension works like a 20$ RC car you bought from toys r us back in the day. My 2005 Subaru out handles it and drives better.

I don't know about those surveys

I do
, but as 2021 Tesla Model Y Long Range AWD owner, I will say Quality is not satisfactory,

I
and range Anxiety is real.

Rivian is the future. Tesla is like the Pinto of EVs.

Are you slow? GM is literally fixing every single battery ever sold no matter how old it is and giving every owner a 10 year 100k warranty on the new battery. Tesla won't replace anything if it isn't fixed with a software update. GM is doing right by customers and Tesla customers are getting reemed with horrible service, endless cost cutting and honestly one of the ugliest cars on the road. Blinded by the hype.

Unethical companies use monopolistic dealership models, car salesmen, "market adjustments", and processing fees. Tesla dropping vehicles by a few thousand dollars is in no way unethical.

Tesla is very safe and shouldn't cost more to insure. It's no more than an internal combustion car.

I bought a Tesla and most Tesla buyers don't tell the truth about EVs. YouTubers say only good things about them and they don't tell the truth.EVs are really fun to drive and faster than any other vehicle I drove. Technology is good too. But, 1. Phantom drain 1-5% battery drain per day just like any smartphone. You don't lose gas when an ice vehicle is parked. This is really bad when you forget to charge and you park your car at the airport or family or friend's home, where every mile counts. If you use sentry mode, you can lose 10+% per day. 2. Glass top really gets hot and you need to have the AC running while the EV is parked, which uses the battery a lot. 3. In the winter, the battery loses the range a lot. 4. You will have the charger connected all the time because of 1 2 and 3. Once you buy an EV, you will know. So, is it really saving money when it's plugged in all the time? And super charger is expensive.. same price as gasoline. 5. When you travel with an EV, expect to add at least 1 hr time to 3-4 hr trip for charging and getting to the charger. If you really want an EV, buy also an ICE vehicle.

Tesla won't replace anything if it isn't fixed with a software update.