Understanding the $7,500 federal tax credit for buying an electric vehicle

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Understanding the $7,500 federal tax credit for buying an electric vehicle

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September 10, 2024 , , , ,

electric vehicle tax credit

Electric vehicles (EVs) have become increasingly popular. According to Kelley Blue Book estimates, the EV share of the vehicle market in the U.S. was 7.6% in 2023, up from 5.9% in 2022. To incentivize the purchase of EVs, there’s a federal tax credit of up to $7,500 for eligible vehicles.
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The Inflation Reduction Act: what’s in it for you?

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August 30, 2022 , , ,

inflation reduction act

You may have heard that the Inflation Reduction Act (IRA) was signed into law recently. While experts have varying opinions about whether it will reduce inflation in the near future, it contains, extends and modifies many climate and energy-related tax credits that may be of interest to individuals.

Continue Reading: The Inflation Reduction Act: what’s in it for you?