James L. D'Auria, CPA Accounting & Tax Services, LLC
Starting January 1, 2024, buyers of new and used electric (EV), plug-in hybrid (PHEV) and fuel cell vehicles may transfer the Clean Vehicle Credit to a car dealer in exchange for a lower price. These new tax credit rules will make clean vehicles affordable for a wider range of taxpayers, who previously had to wait until the next tax filing season to get the benefit of the credit.
The amount of the Clean Vehicle Credit depends on a variety of factors, including battery size and the origin of critical components. The maximum credit is $4,000 for used vehicles and $7,500 for new vehicles. You can find a complete list of EVs, PHEVs and fuel cell vehicles that qualify for the credit at the U.S. Dept. of Energy website (link below). If you transfer a Clean Vehicle Credit to a dealer, the dealer must provide a financial benefit equal to the credit amount, such as a price reduction. For both new and used vehicles, the Clean Vehicle Credit is subject to income limits.
Search for Eligible Clean Vehicles: https://fueleconomy.gov/feg/tax2023.shtml
Posted on January 1, 2024
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Phone: 856-434-7600
Email:
James L. D’Auria: jdauriacpa@jldtaxservices.com
Rebecca Pritchard: becky@jldtaxservices.com
Office Hours:
(January 1st- January 24th)
Monday-Friday: 9 am – 5 pm
(January 29th – April 15th)
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(April 16th – December 31st)
Monday – Friday: 9 am – 5 pm
Helpful Links
Phone: (856) 434-7600
Address: 901 NJ-168, Suite 102A, Blackwood, NJ 08012
James L. D’Auria: jdauriacpa@jldtaxservices.com
Rebecca Pritchard: becky@jldtaxservices.com
Certified Public Accountant NJ
Lic# 20CC04462900
PA License# CA067107
New Jersey Certified Finance
Officer Lic# N-1611
Certified Public Accountant NJ
Lic# 20CC04462900
Certified Public Accountant PA
License# CA067107
New Jersey Certified Finance Officer
Lic# N-1611
Certified Public Accountant NJ Lic# 20CC04462900 | Certified Public Accountant PA Lic# CA067107 |
New Jersey Certified Finance Officer Lic# N-1611
Certified Public Accountant NJ Lic# 20CC04462900 | Certified Public Accountant PA Lic# CA067107 | New Jersey Certified Finance Officer Lic# N-1611