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Working at all hours of the day isn't a recipe for sustainable productivity.
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OpenAI Reaches A.I. Agreement With Defense Dept. After Anthropic Clash The New York TimesTrump Orders U.S. Agencies to Stop Using Anthropic AI Tech After Pentagon Standoff The New York TimesOpenAI to work with Pentagon after Anthropic dropped by Trump over company's ethics concerns The GuardianDonald Trump lashes out at Anthropic The EconomistExclusive: Anthropic Drops Flagship Safety Pledge Time Magazine
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Giant Study Reveals The Secret to Heart Health, And It's Not Low-Carb or Low-Fat ScienceAlertYou're Probably Doing Low-Carb Wrong. A New Study Reveals How to Protect Your Heart. Men's HealthThe Only Diet Rule That Actually Matters celinegounder.comLow-Carb Diets Can Be Heart-Healthy If You Eat Lots Of Nutritious Plant-Based Foods Plant Based NewsLow-Carb or Low-Fat? New Research Says We're Asking the Wrong Question Money Talks News
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Dow Jones Futures: Trump's Anthropic Move Hits Market ETFs; Don't Forget S&P 500's Hottest Stocks Investor's Business DailyStock market today: Dow, S&P 500, Nasdaq sink after hot PPI inflation print, indexes on track for monthly losses Yahoo FinanceHow the S&P 500 Stock Index Became So Skewed to Tech and A.I. The New York TimesS
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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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