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SpaceX and Anthropic, two of the most valuable private companies in the world, are reportedly considering launching initial public offerings as soon as next year.
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Arsenal 4 Aston Villa 1 - Where does this leave title race? Unplayable Odegaard? Missed chance for Villa? The New York Times'It's all going right for Arsenal' - can they make it count this time? BBCMikel Arteta's tactical triumph was not to change much at all as Arsenal show off superiority vs. Aston Villa CBS SportsRampant Arsenal make a strong title statement and bury the Emery bogey | John Brewin The GuardianArsenal go 5 clear in 'g
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Division at the Fed: Some officials want to keep interest rates on hold "for some time" AxiosFed minutes show officials were in tight split over December rate cut CNBCFederal Reserve minutes highlight deep fissures at US central bank Financial TimesDeep Divide Inside Fed Raises Questions About Timing of Further Rate Cuts The New York TimesFed officials showed deep divisions at December meeting, minutes show Re
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Fed officials showed deep divisions at December meeting, minutes show ReutersFed minutes show officials were in tight split over December rate cut CNBCDivision at the Fed: Some officials want to keep interest rates on hold "for some time" AxiosDeep Divide Inside Fed Raises Questions About Timing of Further Rate Cuts The New York TimesFederal Reserve minutes highlight deep fissures at US central bank Financial
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A Deadly, Drug-Resistant Fungus Threatens People Around the World, Scientists Warn GizmodoSuperbug hits 27 states: Here's where the deadly fungus is spreading The HillCandida auris spreads globally as drug resistance and virulence increase, review finds Medical XpressCandida auris skin tropism and antifungal resistance are mediated by carbonic anhydrase Nce103 Nature
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President Biden signed the Inflation Reduction Act into law on August 16. The massive climate, energy, tax, and healthcare package contains numerous clean energy incentives including tax credits for the purchase of new and used electric vehicles. But you may not have heard that the new law also revives the tax credit for electric vehicle charging stations and equipment that had expired in 2021. There are some changes to the prior charging station tax credit that you will want to be aware of, so that you can potentially use the tax break for your own EV charger.
What is the Tax Write Off for EV Chargers?
The federal tax credit for electric vehicle chargers originally expired on December 31, 2021. However, the Inflation Reduction Act's Alternative Fuel Refueling Property tax credit extends the EV charger tax incentive ten years—through December 31, 2032.
SEE MORE EV Tax Credits Are Changing: What's Ahead
So, what does that mean for you? Essentially, if you install an EV charging station at home, the tax credit under the Inflation Reduction Act is 30% of the cost of hardware and installation, up to $1,000. Also, beginning in 2023, the tax credit for business and home installations, will apply to other EV charging equipment like bidirectional (i.e., two-way) chargers.
Businesses that that install new EV chargers or EV charging equipment can also benefit from a tax incentive of up to 30% of the total cost of equipment and installation. But they will have to meet certain labor and construction requirements to be eligible to claim the full incentive.
Before the Inflation Reduction Act, the limit on the amount of the EV charger tax credit for businesses was $30,000 (which still applies to projects completed before the end of 2022). However, under the new law, if you complete the business installa
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