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To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
Federal EV Tax Credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due.
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Here's how cheap you can get a new Model 3 RWD right now (including fed & local EV incentives):
• VT: $26,320
• MA: $26,830
• PA: $27,330
• MD: $27,330 - Delivered after July 1, 2023 https://marylandev.org/maryland-ev-tax-credit
• RI: $27,820
• DE: $27,820
• NY: $28,320
• CA: $28,330
• CO: $28,330
• CT: $29,030
• ME: $29,320
on top of above info federal, state and local incentive info that i posted , some employers are also providing ev incentive like exaple bank of america employees gets $5k incentive , in this case the best case scenario is like below
example scenario
• VT: $26,320 - $5000 bank of america employee ev incentive = $21,320
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CA CLEAN VEHICLE REBATE PROGRAM
$2K is available if your household makes <$200k.
There is an increased rebate of $7500 ($5500 on top of the $2k) available if you fall below income caps based on your household size.
Family of 4 max is $111k, Family of 6 is $149k.
This comes in the form of a check in 2-3 months. https://cleanvehiclereb
This is separate from the CARB Clean Vehicle Grants described below the dashes. It is possible to qualify for both, but the timing is different.
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And California residents that live in a disadvantage community (DAC) https://cleanvehiclegra
Disadvantaged communities are determined using CalEnviroScreen (https://oehha.ca.gov/calenviroscr...
here's the DAC map: https://oehha.ca.gov/calenviroscreen/sb535
And receive an Approval Letter through email.
You must receive an Approval Letter BEFORE you purchase a vehicle. We do not offer rebates and you cannot redeem a grant if you have purchased a vehicle before being approved.
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Top Comments
https://www.tesla.com/model3/design
Deal is even sweeter if you live in a state with additional credits:
VT: $26,320
MA: $26,830
PA: $27,330
RI: $27,820
DE: $27,820
NY: $28,320
CA: $28,330
CO: $28,330
CT: $29,030
ME: $29,320
Full tax credit details below, but the following income limits apply:
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
https://www.irs.gov/credits-deduc...3-or-after
Withholding is totally irrelevant to qualifying for the credit.
If you're unclear on this go read a 1040.
The part where you compute tax liability is lines 16 through 24.
THAT is where the $7500 EV credit comes off.
Your withholdings aren't even looked at until after that on line 25+
This is also not correct.
The Child Tax Credit is worth a maximum of $2,000 per qualifying child. Up to $1,600 is refundable for the 2023 tax year.
Refundable credits are computed AFTER non-refundable ones-- so the CTC is only "worth" $400 off your tax burden for these purposes- the $1600 left is refundable.
Thus if you had say $7900 in tax burden and one CTC and one EV credit, your tax burden would go to $0 and you'd get a full refund of the $1600 refundable part of the CTC
Source:
https://www.nerdwallet.
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The mobile charger is roughly half the price, works just as well for 99% of situations, AND you can take it with you on a road trip unlike the wall charger and even swap out the plug end so it'll work in other sockets in other locations.
As with all your posts, this is factually wrong.
A mobile charger is handy if you plan to drive a significant distance away and stay there for a while and want to charge your car there.
I've done with with AirBnBs a number of times for example.
Though even if you remove the portability benefit I listed several other reasons it's better than the wall charger for 99% of users, at ~half the price, and you ignored all of those too.
A mobile charger is handy if you plan to drive a significant distance away and stay there for a while and want to charge your car there.
I've done with with AirBnBs a number of times for example.
Though even if you remove the portability benefit I listed several other reasons it's better than the wall charger for 99% of users, at ~half the price, and you ignored all of those too.
I'll take "nonsense you just made up with no reason behind it" for $1000 Alex!
(nice job deflecting from the "no reason to take it with you" nonsense I just debunked though!)
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Yup- but you will still have the same requirements to qualify for the credit (income limits, needed tax liability, etc).
What the law says is you can transfer to the dealer any credit you would otherwise be entitled to tax during tax season if you hadn't chosen to transfer it.
I won't get the full $7500
Plus my state has no rebates yet.
Tried to justify getting rid of my Jeep GC Summit but couldn't take the downgrade in comfort, got the wife to think about dropping the Prius C for this Slickdeal. Thanks!
I won't get the full $7500
Plus my state has no rebates yet.
Get what, the $7500 federal tax credit? Of course
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