Biden EV credit?

[Old Pro]

Can somebody explain how the proposed Biden EV credit applies to the Cybertruck? Is there an overall limit of "Tesla's" that apply across the board
or is it by model limit? If the proposed Biden EV credit applies for the Cybertruck what is the proposed Federal Tax Credit? Is there an income limit
potential?

We already own a 2018 Model 3 and benefited from the Federal Tax Credit. Trying to advise my son to hold off buying an Old School ICE vehicle now and to
wait until the Biden plan hopefully passes with this provision. HIs income before write-offs will be in excess of 100K for 2022.

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[Crissa]

The limit of the new EV credit is total EVs as a market share. Models never mattered, and this takes away the 200k limit for manufacturers. So they can make as many as they can.

-Crissa

 

[Ehninger1212]

Can somebody explain how the proposed Biden EV credit applies to the Cybertruck? Is there an overall limit of "Tesla's" that apply across the board
or is it by model limit? If the proposed Biden EV credit applies for the Cybertruck what is the proposed Federal Tax Credit? Is there an income limit
potential?

We already own a 2018 Model 3 and benefited from the Federal Tax Credit. Trying to advise my son to hold off buying an Old School ICE vehicle now and to
wait until the Biden plan hopefully passes with this provision. HIs income before write-offs will be in excess of 100K for 2022.

He should have no problem affording a new Tesla haha, also.. the new plan is a direct to consumer discount rather than a tax credit. So if it passes that $7500 will come right off the top when he purchases his vehicle. This is better for lower income people who cant get the full $7500 tax credit because they don't have that much in tax liability.

 

[CyberT]

Can somebody explain how the proposed Biden EV credit applies to the Cybertruck? Is there an overall limit of "Tesla's" that apply across the board
or is it by model limit? If the proposed Biden EV credit applies for the Cybertruck what is the proposed Federal Tax Credit? Is there an income limit
potential?

We already own a 2018 Model 3 and benefited from the Federal Tax Credit. Trying to advise my son to hold off buying an Old School ICE vehicle now and to
wait until the Biden plan hopefully passes with this provision. HIs income before write-offs will be in excess of 100K for 2022.

Rob Mauer breaks down the latest EV Credit bill on his Thursday 10/28 Tesla Daily video. He starts at the 2:24 mark but I would recommend watching the entire video as always, and then he followed up on Friday's episode a detail of when the credit will start 1/1/2022 - 12/31/2022 purchases will be in the rebate form, and purchases of 1/1/2023 and beyond will be a point of sale discount.

 

[Crissa]

The big thing is whether the union carve-out will apply to phevs. That would make the credit cost like crazy so I'm not sure why that would even be tried. Hopefully Rob is just misreading it or it's an error that will be caught.

-Crissa

 

[Old Pro]

He should have no problem affording a new Tesla haha, also.. the new plan is a direct to consumer discount rather than a tax credit. So if it passes that $7500 will come right off the top when he purchases his vehicle. This is better for lower income people who cant get the full $7500 tax credit because they don't have that much in tax liability.

Thanks!

 

[Old Pro]

Rob Mauer breaks down the latest EV Credit bill on his Thursday 10/28 Tesla Daily video. He starts at the 2:24 mark but I would recommend watching the entire video as always, and then he followed up on Friday's episode a detail of when the credit will start 1/1/2022 - 12/31/2022 purchases will be in the rebate form, and purchases of 1/1/2023 and beyond will be a point of sale discount.

Thank you!

 

[John K]

So, you say file separately and report all income as my wife’s to be eligible for the credit? Or, purchase through my son to get the credit? I feel like a criminal.

 

[Ogre]

So, you say file separately and report all income as my wife’s to be eligible for the credit? Or, purchase through my son to get the credit? I feel like a criminal.

The way the proposed legislation would work is it will be effectively a discount at the point of sale. Whether you will pay income tax or not doesn’t matter.

 

[TechOps]

Make sure you also have your son place an order now and then have the advisor put the order on hold.

For a $250 order fee, the order can be kept alive at today's pricing for up to a year.

If this EV credit does pass, there's a good chance the vehicle price will go up by $thousands by the time he gets the car. Better to lock in pricing now.

 

[John K]

The way the proposed legislation would work is it will be effectively a discount at the point of sale. Whether you will pay income tax or not doesn’t matter.

I was joking if income caps prevent me from enjoying the benefit. If I do, and no production delay, third motor may be in the future. After a few shots before saying, she/wife will never find out. ??

 

[John K]

Make sure you also have your son place an order now and then have the advisor put the order on hold.

For a $250 order fee, the order can be kept alive at today's pricing for up to a year.

If this EV credit does pass, there's a good chance the vehicle price will go up by $thousands by the time he gets the car. Better to lock in pricing now.

I am good with my current reservation. Not in my budget to buy two if I want to eat in my retirement. (Includes buying wife a Y alongside.)

Tesla site shows $100 as the reservation for me. Does it show increased to $250 for you? I am thinking about placing another reservation just in case I find some gold in my backyard. (To be ready in 10 years)

 

[Ogre]

I was joking if income caps prevent me from enjoying the benefit. If I do, and no production delay, third motor may be in the future. After a few shots before saying, she/wife will never find out. ??

If the $800k household income caps applies, is it really worth the headache of shuffling your money around?

 

[John K]

If the $800k household income caps applies, is it really worth the headache of shuffling your money around?

Do you know how cheap/frugal I am? I would prefer there was a sensible income cap where I would be excluded. If I am included, I will use. If not, no complaints from me. I will be happy with my new Tesla pen I will get with my CT.

800k cap is a bit high for me to consider a sensible level.

 

[Ogre]

Do you know how cheap/frugal I am? I would prefer there was a sensible income cap where I would be excluded. If I am included, I will use. If not, no complaints from me. I will be happy with my new Tesla pen I will get with my CT.

800k cap is a bit high for me to consider a sensible level.

I’m pretty sure I’ve never read anything from you which is remotely sensible.

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