Thursday, February 1, 2024

EV's

There is a $7,500 tax credit on the purchase of an electric car but it is non refundable which means you only get the deduction if you owe $7,500 in taxes. A family of four must earn $125,000 to qualify for the $7,500 deduction. This is not for middle and low income people but that is okay since they couldn't afford and EV anyway.

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