Taking Full Advantage of the EV Tax Credit
In a recent post from an online financial independence community someone was asking about how the federal EV (electric vehicle) tax credit works to “reduce the price” of new EVs. Officially known as the “Plug-In Electric Drive Vehicle Credit (IRC 30D)”, the way this works is that if you buy a new EV or PHEV (Plug-In Hybrid Electric Vehicle) with a large enough rechargeable battery (over 5 kWh) from a qualified manufacturer, you are able to claim a $7,500 tax…
