Inflation Reduction Act – Tax Credit for Electric Vehicles
With the signing of the Inflation Reduction Act on August 12th, 2022, the tax credit for the purchase of electric vehicles got a nice makeover. Under the previous rules, certain qualified vehicles purchased offered a tax credit of up to $7,500 to eligible taxpayers. The amount of the credit was determined by various factors including the capacity of the battery used to power the vehicle and how many vehicles the… Read More »Inflation Reduction Act – Tax Credit for Electric Vehicles