Hey ,
Do you remember the Inflation Reduction Act? It created new electric vehicle tax credits to encourage the purchase of
electric vehicles.
This new tax credit can be claimed for vehicles purchased on or
after January 1, 2023. And it is available through 2032.
With these new incentives:
- Individuals who buy electric passenger cars and businesses who buy smaller commercial electrics can claim
a tax credit of up to $7,500
- Businesses that buy bigger commercial vehicles and electric trucks can claim up to $40,000 in tax credits.
- The tax break is also available for electric mobile machinery, which includes factory or construction machinery.
However, there are a lot less requirements to claim the
business vehicle tax credit for bigger cars than there are for small cars.
What does this mean?
This means it is easy to claim the vehicle tax credit as a business if you purchase any qualified commercial clean vehicles (bigger vehicles).
So, remove all fear of paperwork, etc., and position your business to benefit for up to $40,000.
Why is this a good tax credit?
It certainly makes buying your electric vehicle for business use less expensive.
Effective next year, you can start taking advantage of this. I am available to help you take full advantage of this.
Remember, tax credits are not to be missed because they reduce taxes you owe, dollar for dollar!
