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EV Tax Credits: Everything You Need to Know for 2024 | Eligibility, Incentive Amount u0026 More

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If you wanted an EV, would you be buying or leasing? Tell us why below!
Comment from : @edmundscars

Buying
Comment from : @pilljr3331

It’s all bullshit, apparently you have to be very low income to qualify for any incentives, taxes, programs as if really low income can afford and ev let alone a house to charge it in It’s a bullshit scam
Comment from : @barrymicockner

Very informative
Comment from : @TammyJackson-k2x

Doesn't bother the Cadillac evs qualify for the 7500 credit?
Comment from : @clemonaid333

OMG this is the most thorough explanation I could find on internet and you made it so simple to understand Thanks
Comment from : @iiiwellness

What if you’re buying it from a private seller
Comment from : @ehsvj7024

So I just left carmax and they don’t participate in the used tax credit as far as putting it towards the price
Comment from : @dgitoutofmany1

We are all paying more for insurance for this failed experiment!
Comment from : @TabletAccount-fo8zm

Used EV or Plug In Hybrid at least 2 years old and priced under $25K can qualify for 30 or up to $4K tax credit also
Comment from : @kaizhu8337

The used EV tax credit of $4000 that the dealer is taking off price of the car (vehicle and I qualify) does that $4000 come off my tax return that I get back in 2025?
Comment from : @davidC23333

Does EV tax credit applies to used cars like Tesla and other electric brand vehicles If it does you should make a video about this but for used electric vehicles
Comment from : @SIDVENOM

I drove the Y and the 3 today and fell in love with them Im considering getting one pretty soon Just watching these types of videos is helping a lot eorh my decision Thank you for making them
Comment from : @GForceIntel

What if a household gets 4 to 5k in taxes every year?
Comment from : @gtfreak32

With the last election results… We can kiss all these incentives goodbye…
Comment from : @lawencelawson5089

Kiss is goodbye by January
Comment from : @Tierhog774

You have the head of household and married filing jointly values mixed up
Comment from : @davidkepics1644

What if the dealer is not registered with the IRS and is not going to do Time of sale report? But only provides you with the bill of sale and you also have your 8936 tax formbrWill i get my credit during my tax return? This is a USED CARbrThank you
Comment from : @MikeXxXRabbit

I bought my Tesla 3 slightly used in the end of 2022, I thought that rebate is a gimmick, hopefully I`m not too late to file for it
Comment from : @bulba888

you people taking up on the tax credit are screwing the disabled and elderly! bidenharris stole 230 billion from medicare to fund this program so after the elections of course all receiving medicare premiums will go up by five times what they pay now! both are currently under investigation for violating the hatch act for doing this but hey enjoy that new EV!
Comment from : @tazz3663

the tax credits have definitely made EVs more appealing, but it’s not just about the upfront savings The bigger question for me is how it affects your overall financial picture
Comment from : @camela8445Mar

There are close to 60,000 EVs rusting in manufacturer's lots because nobody wants them If it weren't for taxpayers propping it up, this industry would be dead
Comment from : @deebee4575

Ey boss What about the state credit? How do you file that at the point of sale? Take model Y for example
Comment from : @estebannator2012

Hopefully you made a video about the available tax credit when buying a used EV
Comment from : @Graemesbullys

Thank you for this information Unfortunately I make $78 million dollars a year so I don’t qualify 😢
Comment from : @Brice1999

awesome presentation
Comment from : @kamalbora

I can receive the full $7500 tax credit if I use it for a down payment even though I don’t have $7500 in taxes on my tax return?
Comment from : @MikeCrawford-mi4ep

Good information but the theatrics is a bit over the top dude!
Comment from : @JohnDoe-pe6iu

If I get a return does that mean I can get back 4000 on top of what I usually get ?
Comment from : @Two-ideas

Will this change when it’s 2025? Cause I’m planing on buying a Tesla model 3 and I wonder if this will carry on to the next year or not?
Comment from : @wavvylyfe

Hybrids don’t quality, this is to complicated It’s a government scam They make it look like the they’re really concerned about the environment All the car that quality are crap, unless you buy a tesla model y
Comment from : @Cyberbeesty

The used dealers, for the $4K rebate on vehicles at/under $25K, are either 1) Ignorant & Lazy, not wanting to transfer or even process things or register with the IRS, or 2) dealers are fraudulently pricing the Teslas under $25K and requiring customers to give them the $4K therefore actually getting $29K for the Tesla
Comment from : @matthewherren

Big oil is subsidized trillions every year Big auto bails out every yr brEV tax credit subsidies go the little guy buying his car
Comment from : @GWAForUTBE

Would this tax credit apply to a vehicle (on the list) that I purchased from a private seller?
Comment from : @shantwil

I calculate that if I don't buy a new car I save the most money
Comment from : @Sky1

Great video! Are there tax credits on hybrid or HPEV?
Comment from : @leeseoungjun2

So let’s say I buy one of these vehicles let’s stay off of Facebook marketplace and hypothetically will say I make $100,000 a year now am I gonna get that $7500 back in the form of a refund from the government or is it just lowering my Adjusted gross income by $7500? That’s the case that wouldn’t really be worth it as I only be saving you know maybe a couple thousand dollars on my taxes or I would but I’ve already paid in course of the year so technically I’m not gonna owe anything give me any insights into this I would greatly appreciate it thank you very much
Comment from : @Romans-310

So if all your taxes are taken out on a weekly basis thru payroll taxes, and this isn’t refundable, how can you get this discounted?
Comment from : @CarlosRevers1

The dealer I'm trying to buy my used Hyundai Ioniq ev through says their dealership didn't sign up for the rebate program Is that even a thing? So I asked them if I can send in the paperwork myself and apply for the rebate They're checking on that Help! Also, does a tax credit mean that the IRS takes that 4k off what you owe them, or does the IRS send you a 4k check no matter if you owe or not? I'm so confused
Comment from : @freeone77

Can you use it for a down payment ?
Comment from : @Rob-qh4jz

4:10 no model 3???
Comment from : @rujianfu

So can my wife get the uber $20k and this $7k tax credits stacked make it worth it for us Mayne do power wall bank and solar with soon new roof
Comment from : @Fossillarson

Too many rules to buying an EV
Comment from : @psykickz9159

I bought a Tesla Model 3 last year and claimed this 7500 on my most recent taxes, Now if I buy a new Model Y, will I be eligible for another 7500?
Comment from : @kunalkheeva

Im confuse when you said for 2024 a list of income What that? Example Married file joinly < $225,000 What does this mean? Thanksbrbr1:45 i to the videos That is what im referring too Thanks
Comment from : @Jack_2011z

tesla model 3 doesnt qualify????
Comment from : @ryanhoeven7826

Can you use the credit as the down payment?
Comment from : @Shaun24kTV

So I can apply my tax credit, lets say its $7500, into the car price at the dealership and simply do my next taxes as normal?
Comment from : @mp6732

Colorado gives 5k rebate and if you can find msrp below 35k, you get another 25k That would be 7500 on federal and 7500 on state 😮
Comment from : @Emma-33

Does that mean any EV on a lease can get the full 7500?
Comment from : @vicrell489

I'm a low-income (roughly about 44k) buyer and my tax bill usually is a few hundred dollarsso lets say 300 I don't have to pay back the 7200
Comment from : @michaelhoapili4688

Can you get a used vehicle and occasionally use it for rideshare driving? Mixed use, maybe 50/50 business/personal miles and deduct mileage (not actual cost)?
Comment from : @boki23m

Great video
Comment from : @VirtualFollowers

people always forget about the most important part of purchasing a car the loan interest rate I just bought the BZ4X with 0 interest for 72months, in this economy crisis 0 interest is worth way more than $7500
Comment from : @razorog3283

does the tax credit apply to used EVs?
Comment from : @cubacroll659

Can we please lower the volume of the generic music in the video jesus that is just so annoying to listen to the entire time Just present with a clear voice and use (better) music/beats when it's appropriate
Comment from : @taipoxin

you didnt cover the 4k for used cars
Comment from : @jp23x

Great video, covered all the points I was concerned about Model 3 Performance calling my name!
Comment from : @ELTACHY1

Ok what about the used credit
Comment from : @christianfiguroa7147

Can you believe fucking Biden he signed a bill that limits you to get the rebate for instance 2023 last chance to get $7500 when purchasing model 3
Comment from : @Vegitobluuuuu

can the car be used?
Comment from : @jacobsosa1497

How long do u need to keep the car if you get the used EV $4000 and can you use it to drive Uber?
Comment from : @boki23m

So let me get this right they’re gonna keep raising taxes so they can give you money back so you can buy one of these That’s actually how it works You’re not actually getting money to buy a new vehicle They give you money now and take it from you in the future more than they ever gave you Plus, they own stocks in these companies do the legislative familieselites Stop voting for idiots and repeal this
Comment from : @michaelkitchen6000

Too bad the 23/24 Prius Hybrid isn’t on this list Of course they’d want you to pay twice the price for the models listed with less resale value Damn government! 😡 🤦‍♂️
Comment from : @threadoflife

Can someone help me with this question? br brExample: Used Chevy Bolt is advertised brat dealership for 10,000: br brbut after the sales tax and brother fee's from the dealer brthe cost is more like 11, 500 out the door: br brbut I also I also wish to purchase an extended warranty bradding another 150000 to the total price brbringing the final price to br br13,0000, (if I also add the extended warranty) bri_______________________________________________/i brCan I say on the IRS EV used car credit program, brthat the cost of the car was br br13,000? or do I have to use only the br10,000 price of the car, excluding the sales tax and dealer fee's brand extended warranty cost ?
Comment from : @flolou8496

Hello, very good video, I would like to know if you could help me with a question, I have a big concern, I downloaded my Tesla form, which is the car that I bought was a new vehicle, specifically Model 3 2024, which qualified 7500 for the federal and 4000 for the state Today I went to do my taxes and I was surprised that the person who does my taxes told me that I was not going to receive my federal of 7500 because I only reported 17,000 dollars on my taxes I was surprised how true this would be that I didn't qualify to obtain the federal tax because i didn't report so much even though I have my form that I downloaded to claim the 7500 from tesla
Comment from : @emelec79rvj

THANK YOU SO MUCH
Comment from : @johnbehneman1546

So I make $40,000 a year Never owed any taxes back to the IRS I always get a refund around $1200 a year Im single I want a 2023 white Chevy bolt that’s about $32,000 at most So do I qualify for the whole $7500 discount? I would take the credit at time of sale instead of waiting Also does this mean I wont be receiving my $1200 tax refund at all because of this $7500 credit? Or that remains unchanged? Has nothing to do with the EV credit? If I buy it this year in 2024 I put it on my tax forms in February 2025 when I do them? I already did my taxes for 2023 which I did February 2024
Comment from : @Catman1798

I was told the $7500 tax rebate is nonrefundable so if you don’t owe $7500 in taxes, you will not get the full 7500 It seems a lot of people tell you different answers to the same question, so who is correct?
Comment from : @brassinpocket6257

So let me get this straight if I don’t owe $7500 a year in taxes, the dealer will still deduct it from the price and the government won’t come after the difference?
Comment from : @brassinpocket6257

Yeah the IRS online portal is a fuster cluck Good luck getting the point of sale credit
Comment from : @CoordinatedCarry

Why isn't the tax credit $21875? brThat's what a fossile car is subsidized through oil (IMF 2023 numbers)brAnd, why do you need to pay the tax back This is not the same with fossile cars
Comment from : @geirvinje2556

Incorrect:::: married filing jointly $300k Head of household $225 He had those switched around
Comment from : @torocars9227

Right to the point! i watched so many video ppl just rambles on and on but this is just great
Comment from : @roshanmahavithanage6312

What about second hand purchases? Any tax rebates there?
Comment from : @berkaberk

How about if you are buying a used EV? Tesla says those don’t qualify?
Comment from : @Ccitaflores

So if you earn more than 150k gross being single you don’t get any benefit by switching to EV?
Comment from : @rafaeljuarez1522

Number on 1:54 is wrong, it should be 300,000 when family filing jointly
Comment from : @Disrespectfffff

No California rebate - Effective November 8, 2023, CVRP is closed to new applications
Comment from : @rp9674

Good video, but the language about needing to owe at least $7,500 in taxes at the end of the year isn't accurate
Comment from : @joed6850

Kredytobiorcy zróbmy strajk aby wakacje kredytowe były na takich samych warunkach co za PiS Co Wy na to?
Comment from : @pasiekami

I wasn't aware of all the available incentives in late December when I ordered my 2023 Chevy Bolt EV 2LT The dealership is experiencing some issues with the IRS software and has agreed to hold my vehicle until the issues are resolved I prefer the dealership to work with the IRS, so I need to Here's a list of incentives that I'm receiving here in Colorado The MSRP listing is $32,250 minus $7500 Federal and another $7500 in Colorado, plus a $500 debit card for charging at EVGO , I'm also receiving a $500 military discount from GM, if that's not enough my local power company will pay up to $1000 to help with any electrical up grads need for wiring a charger at my home that's almost a $50 discount on a new Car buying only $16,250
Comment from : @Jeffginter

Please have more videos with Nick!
Comment from : @KealeyOnCars

Wonderful I get screwed out of $7,500 due to income But yet the taxes I pay pay for people that make less than me so they can get a discount Such BS!
Comment from : @xtabi8888

EV is GARBAGE!
Comment from : @chriszaiser

Wooo!! I love this guy!! I was thinking about getting an EV, and this helped me so much understand the buying process a bit more brbrThanks, Nick!! Keep doing great work :)
Comment from : @albaabkh