-----
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.
--------------
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
-------------
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.
----------------
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.
This post can be edited by most users to provide up-to-date information about developments of this thread based on user responses, and user findings. Feel free to add, change or remove information shown here as it becomes available. This includes new coupons, rebates, ideas, thread summary, and similar items.
Once a Thread Wiki is added to a thread, "Create Wiki" button will disappear. If you would like to learn more about Thread Wiki feature, click here.
Leave a Comment
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.
1,792 Comments
Sign up for a Slickdeals account to remove this ad.
(250 - 21k 401k - 1k FSA = 228k so i'm just past the head of household limit as a single guy)
The difference is thanks to regen you rarely have to use the mechanical brakes-- thus why there's lots of Tesla owners on the original brakes at insanely high miles (I've seen more than a couple owners still on original pads >200k miles for example)
Also sounds like you're implying any EVs brakes will last longer, not just Teslas. That's cool. Guess that means there are many other makes out there to consider.
(250 - 21k 401k - 1k FSA = 228k so i'm just past the head of household limit as a single guy)
(250 - 21k 401k - 1k FSA = 228k so i'm just past the head of household limit as a single guy)
LLPA fees on mortgages, AMT on W2 income, 35% tax rates. No good first time homeowner assistance at that salary. Just brutal all around.
It seems like a lot of money until you realize that to get it I live in a place where SFH's are $900k and mortgages are over $5000 now.
Sign up for a Slickdeals account to remove this ad.
Here is an actual 4.5 year old Model 3... https://insideevs.com/news/667990...gradat
Our community has rated this post as helpful. If you agree, why not thank FishKilla
Right-- because the remote diagnostics showed nothing wrong with the car.
Why waste the customer, and the service techs, time when there's nothing to fix?
Sure, if they told them the truth that the reason they were not getting the advertised mileage is because Tesla rigged the dashboard outputs to exaggerate range.
https://www.reuters.com/investiga...ies-range/
Quote:
"Tesla years ago began exaggerating its vehicles' potential driving distance – by rigging their range-estimating software. The company decided about a decade ago, for marketing purposes, to write algorithms for its range meter that would show drivers "rosy" projections for the distance it could travel on a full battery"
Quote:
"Tesla was fined earlier this year by South Korean regulators who found the cars delivered as little as half their advertised range in cold weather. Another recent study found that three Tesla models averaged 26% below their advertised ranges."
Because that's what not cancelling would have been- wasting the owners time going to an appointment when nothing was wrong, and wasting the service centers time dealing with a car with nothing wrong with it.
As the one tesla owner they managed to get any quotes from in the entire story also admitted--
They told him there was nothing wrong with the car.
He ignored them and showed up at a service center anyway- only to waste everyone's time and be told the same truth again.
A truth which even he now admits turned out to be accurate.
Because the "advertised" range in the US is from the EPA testing cycle.
It has literally nothing to do with the "dashboard outputs"
(double funny- the story admits they have no idea if Tesla even uses the same software from 10 years ago they were mad about in the first place)
This was already explained, in some detail.
Since you either did not read, or did not understand, the explanation I suggest you go back and check it out.
Because the "advertised" range in the US is from the EPA testing cycle.
https://www.sae.org/publications/...3-01-0349/
https://www.caranddrive
The way the tests are conducted also skews the reported range figure. Unlike Car and Driver's real-world test—carried out at a constant 75 mph—the EPA's cycle is variable, with the speed increasing and decreasing over the course of the test. While this is detrimental to the results for gas vehicles, which tend to be most efficient at a steady rpm, the ability to regenerate energy under braking leads to higher range results for EVs, which are shifted even higher by the slight bias towards the city results in the combined rating.
The EPA's highway cycle is conducted at significantly lower speeds than Car and Driver's 75-mph test, with the initial EPA results then multiplied by a reduction factor to simulate the effect of higher speeds. Automakers can chose between running a two-cycle test—where the data is multiplied by a standard 0.7 adjustment factor—or carrying out a five-cycle test in an attempt to earn a smaller reduction factor, making the label figure higher. That means range figures aren't perfectly comparable across different vehicles.
The German automakers—BMW, Mercedes, Audi, and Porsche—typically provide a relatively conservative range figure, allowing us to meet or even at times exceed the range numbers in Car and Driver's real-world tests. Tesla, meanwhile, pursues an impressive figure for its window stickers, and ends up returning real-world results that are on average two times as far off the label value as most EVs. A range discrepancy between EVs from different companies might not be as extreme as the numbers would suggest. "400 miles of stated range for a Tesla and 300 miles for a Porsche is pretty much the same number at real highway speeds,"
As I have told you here before, if you drive your car on the highway, in cold weather, with the heat on, you will be lucky to get half of the "advertised" range.
You can write all of the word salads you want. but the facts are facts, and people are seeing now that they are NOT getting the range they thought they were told they would.
I'm gonna tell my uncle on you and he is going to beat you up
It's literally how stated mileage is determined on all new cars in the US.
Your links appear to complan about the EPAs testing methods.
Which just confirms what I told you, even if the fact you posted that as a rebuttal makes it appear you again did not understand the post you were even replying to.
Sign up for a Slickdeals account to remove this ad.
Leave a Comment