For many car buyers, new electric vehicles (EVs) are priced out of reach, even when tax credits are applied. But it still may be possible to buy an affordable EV and qualify for a credit. Previously owned EVs and fuel cell vehicles purchased from a licensed dealer on or after Jan. 1, 2023, for $25,000 or less are eligible for a used clean vehicle credit. Your modified adjusted gross income must be less than $75,000 ($150,000, married filing jointly). The credit is for 30% of the vehicle’s sale price up to $4,000. Rules apply regarding such details as the weight and battery capacity of the vehicle, so before buying, check on eligibility and the value of the credit at https://bit.ly/3M3nT7x. Contact us with questions about these tax credits. © 2023
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