In this insightful episode of ‘Dr. Friday Tax Tips – One Minute Moment,’ Dr. Friday, president of Dr. Friday’s Tax and Financial Firm, dives into the latest updates on electric vehicle (EV) tax credits for 2023. Listeners will learn about the non-refundable tax credit ranging from $3,750 to $7,500 available for new EV purchases, alongside an unprecedented opportunity to receive up to $4,000 in tax credits for used EV cars—a first in the industry. This episode highlights the eligibility criteria, emphasizing the importance of the vehicle being a first transfer to qualify for the used EV tax credit. Additionally, Dr. Friday touches on the cap for new EVs, which applies to the first 200,000 vehicles manufactured. Tune in to unravel these financial incentives designed to promote eco-friendly transportation.
Transcript:
“G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one minute moment.
A non-refundable EV tax credit ranging from $3,750 to $7,500 for the year of 2023. What’s great about this, they’ve also added a tax credit up to $4,000 for used EV cars. Up until now, they haven’t really had that. It has to be a first transfer, so if this person was the person that purchased it and you purchased it from them, you may qualify up to $4,000 of the used vehicle. If not, if this is a second or third transfer, you’re not going to qualify. And of course, new cars still qualify up to 200,000 cars already made.
You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 to 3 right here on 99.7 WTN.”