What to Know About Electric Vehicle Tax Credits in 2024

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What is the electric vehicle tax credit? First things first: what electric vehicle tax credit is available for vehicles purchased on or after January 1, 2023? For new electric vehicles: Electric vehicles — also commonly called clean energy vehicles (we’ll be using both terms in this article) — purchased new on or after January 1,

What to Know About Home Energy Tax Credits in 2024

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Residential Clean Energy Property Credit Making clean energy upgrades to your home? You could save on taxes with the Residential Clean Energy Property Credit, which kicked in on January 1, 2023, and carries through until January 1, 2033, when it begins to phase out. This home energy tax credit has no annual or lifetime limit

How to Minimize the Impact of R&E Expense Changes

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The Tax Cuts and Jobs Act (TCJA) was passed into law in 2017, but its effects are still being felt years later. A number of the law’s provisions have already expired or will do so soon. The present deduction for research and experimentation (R&E) costs was one provision that ended last year. R&E Expenses Numerous

What are the New Tax Credits in the Inflation Reduction Act?

On August 16, 2022, the Inflation Reduction Act was signed into law. Included in this act are several tax credits focused on green initiatives.  You may be wondering… what are these new tax credits in the Inflation Reduction Act? And how can I benefit? Here’s how to take advantage of the new tax credits in