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Some people have an incentive to hold off on charitable giving until next year, in order to get the full tax reward for their generosity when new rules take effect.
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New York Casino Next To Citi Field Approved After Years Of Wrangling; Mets Owner Steve Cohen To Run It DeadlineSteve Cohen Wins Approval for Casino Near Mets Stadium The Wall Street JournalNYC casinos: New York Gaming Board votes to recommend 3 new casino licenses in the Bronx, Queens ABC7 New YorkGaming Board Recommends All 3 Bids for New York City Casino Licenses The New York Times
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A pared-back White House Christmas — with a Trump Lego portrait The Washington PostI toured the White House to see Melania Trump's Christmas decorations. The East Wing is no more, but the display was still dazzling. Business InsiderInside this year's White House holiday decor CNNSee First Lady Melania Trump's 2025 White House Christmas decorations USA TodayAfter East Wing demolition, White House tours are bac
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This Unbeatable LG OLED Deal Takes the Cyber Monday Crown CNETWalmart has this LG 4K TV with AI on sale for Black Friday, but today is your last chance to get it Syracuse.comThe Top-of-the-Line LG Gallery Series G5 OLED TV Drops to a New Price Low for Cyber Monday IGNI've tested around 50 TVs in the last year and I love the LG G
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Most U.S. workers struggle to save and invest for their older years.
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The Corporation for Public Broadcasting agreed Monday to fulfill a $36 million, multi-year contract with NPR that it had yanked after pressure from the Trump White House.
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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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