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Electric Vehicle Credits
For several years now, the government has been incentivizing the purchase of energy efficient and “clean” items. From solar on your home, to electric vehicles, you can reduce your tax liability with the purchase of these items.
How Much Can You Deduct?
The federal electric car tax credit is only available on certain electric and plug-in hybrid vehicles, and the maximum amount available is $7,500...which is ultimately based on the vehicle's battery pack capacity. All battery-electric vehicles are eligible for the full credit, but not all plug-in hybrids are.
The full list of vehicle credits available is located on the U.S. Department of Energy’s website. Click here to access.
Ways to Avoid Losing The Credit
How Do You Get the Credit?
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