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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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Then in 10 years tax payers are going to be paying for carbon sequestration because our crops will be wiped out by the radiative forcing properties of carbon dioxide
Then in 10 years tax payers are going to be paying for carbon sequestration because our crops will be wiped out by the radiative forcing properties of carbon dioxide
The top of the line ICE version is the XSE V6 which has a base price of $36,745 and no tax credit. So even if you stop there the Model 3 discussed here is over $6000 cheaper with the tax credit.
If you mean TOP of the line Camry as in with all options included, the price balloons to $42,194. And still no tax credit.
The Model 3 this deal is about is under $30,000 after tax credit.
Your Camry is over 25% more expensive. Plus it's still a Camry- the merlot of sedans.
FWIW the federal tax credit isn't forcing anybody to subsidize anything.
A non-refundable tax credit simply means you get to keep more of your own money
Only REFUNDABLE credits ever give you someone ELSES money.
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https://arstechnica.com/tech-poli...ces-20-30/
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Issues:
- Phantom (or overly-conservative) braking on autosteer is really awful and happens often enough to discourage use. Tesla simply removed radar too early… vision is not capable or mature enough yet.
- Wipers (which are forced to auto setting when using autosteer) activate randomly in broad daylight even though the windshield and cameras are completely clean. Also happens frequently enough to discourage using autosteer.
- The removal of ultrasonic parking sensors was also premature. The vision system is buggy, takes too long to activate, and simply feels like a gimmicky, less premium solution.
- There is an obvious spacer where the lumbar adjustment used to be in the passenger seat. Feels cheap (but at $30k, maybe par for the course). At least the seats are comfy enough otherwise.
Good stuff:
- Motorized trunk is nice
- Still plenty quick even though this is the "slowest" Tesla
- Build quality has improved a little over the years, but still a few noticeable issues
- Has features other cars in the $30k price range don't, like heated steering wheel/rear seats, 4 usb-c ports, all the tech (dashcam, sentry, nav, games, amazing app, etc.)
- LFP batteries seem to be a slight advantage, since you never need to worry about capping SOC. Starting every day on 100% is just a nice feeling. Range did dip on colder days but not massively more than NCA-equipped cars. We'll see how degradation turns out with these, but in terms of charge cycles they are supposed to hold up very well (and of course less prone to catastrophic failure, for those who care).
- Efficient enough that most people could cover their commute with the 120V wall adapter overnight.
- Supercharger network has grown substantially better over the years. Range anxiety is simply not a thing with Teslas anymore. The PlugShare app is still essential for finding free spots, and in case of emergencies. If I owned, I would carry the adapter to plug in at RV outlets when traveling just in case, but I'm a bit of a prepper like that.
Overall, a few vision/autosteer nuisances currently keep me from buying one myself, but still… those issues will hopefully be fixed in software eventually, and this is probably the best car for the money right now, if you can take advantage of the tax credit(s).
Why would you need to buy BOTH a wall charger and a mobile charger? Personally I've only ever bought the mobile-- it's cheaper, and it does largely the same job while being infinitely portable and offering adapters to a wide array of plug types.
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Not saying they are right, but also not surprised by the sentiment
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