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Warren Buffett officially retires as Berkshire Hathway's CEO NPRWarren Buffett's career advice for young professionals: ‘Hang out with people better than you' FortuneBe a good person and buy boring stocks: Wall Street reflects on Warren Buffett's wisdom Yahoo FinanceWarren Buffett hands over Berkshire Hathaway's reins to Greg Abel Financial Times
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Xi Jinping vows to reunify China and Taiwan in New Year's Eve speech The GuardianChina's Xi hails nation's technological progress and renews pledge to take back Taiwan NBC NewsChina's Xi says ‘reunification' with Taiwan ‘unstoppable' Al JazeeraXi Touts China's AI, Chip Wins In Triumphant New Year's Speech
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China's domestic film industry now has the scale to produce global box-office leaders on its own — even as it flexes make-or-break power over the fate of Hollywood's biggest movies.
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Capitol riot 'does not happen' without Trump, Jack Smith told Congress NPR7 takeaways from Jack Smith's congressional testimony PoliticoIn Hearing Transcript, Jack Smith Defends Decision to Indict Trump The New York TimesHouse Judiciary Committee releases video and transcript of Jack Smith deposition CNNJack Smith told House committee he had ‘proof beyond reasonable doubt' in cases against Trump The Guardian
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Younger entrepreneurs are reshaping the franchising landscape, bringing technology fluency, a desire for purpose-driven work and a fresh approach to business ownership.
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There's a difference between a professional mentor and a sponsor, but women need both if they want help moving forward in their careers, explains Wharton Deputy Dean Nancy Rothbard. This Ripple Effect podcast episode is part of a series on "Women & Leadership."
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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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