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Tag Archives: EV credit

Tax Credits for Clean Vehicles Change in 2024 by Brendan Kurpis, CPA

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Posted on April 09, 2024 by Brendan Kurpis

Effective Jan. 1, 2024, it is easier for individuals to claim federal tax credits for the purchase of new electric, plug-in hybrid and fuel-cell electric vehicles, but there are fewer cars and trucks that qualify for the full $7,500 credit this year. The clean vehicle tax credit was amended in 2022 as part of the […]

Expanded Tax Credit for Businesses Installing Alternative Fuel Refueling, Recharging Equipment by Claribel Velazquez, CPA

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Posted on August 01, 2023 by Claribel Velazquez

The Inflation Reduction Act of 2022 (IRA) includes several tax credits and deductions intended to incentivize taxpayers to adopt alternative energy solutions in their homes and businesses. One such credit applies to the installation of products or facilities that store or dispense alternative fuels to motor vehicles, including electric charging stations and bidirectional charging equipment. […]