Foundation CT tax credit ?

[flashaa]

I have a Foundation CT ordered. Does the increased cost still meet the eligibility for the tax credit? I assumed it did since the credit was based on the base price. Am I wrong? Need to know before I take delivery. Thanks

Sponsored

 

[Makeodds101]

No, it has to be 80k or under. When you purchase the vehicle, no matter which one, it’ll be over that 80k. They don’t separate the cost as 80k and separately an addition 20k, if they did we would possibly be able to use the tax credit.

 

[Don Draper]

Own a business and registration is in business name then maybe. Talk to your accountant
https://www.irs.gov/credits-deductions/commercial-clean-vehicle-credit

No limits on price or income for this $7500 federal credit

 

[rjhoskins]

Own a business and registration is in business name then maybe. Talk to your accountant
https://www.irs.gov/credits-deductions/commercial-clean-vehicle-credit

No limits on price or income for this $7500 federal credit

Holy Sh*t. I have never seen this, assumed I was not able to claim due to income. However, my CT is being purchased as a business vehicle. Definitely sending this to my accountant for review. Thanks for the info @Don Draper

 

[Don Draper]

Holy Sh*t. I have never seen this, assumed I was not able to claim due to income. However, my CT is being purchased as a business vehicle. Definitely sending this to my accountant for review. Thanks for the info @Don Draper

You owe me a beer! If I drank.
So going to use this to my advantage with my powershare installer. His assistant said he has a Cybertruck on order and he is really excited to do my estimate. So when I meet him I will tell him, if you give me a really great deal I will save you $7500 on your Cybertruck purchase!
Sound good?

 

[joesdayjob]

anyone know if this tax credit works for businesses ?


has anyone actually got this credit for a cybertruck for their business ?

 

[carsly]

The commercial EV tax credit is the way. Same thing many OEM’s are using to subsidize leases because a business/bank owns the vehicle - not the individual. No income limits.

 

[Pops]

Holy Sh*t. I have never seen this, assumed I was not able to claim due to income. However, my CT is being purchased as a business vehicle. Definitely sending this to my accountant for review. Thanks for the info @Don Draper

This isnt has easy as the Tiktokers would have you believe. There are pretty clear guidelines that work to prevent tax fraud. You have to have a business with revenue, not just something you slapped together to get tax advantages. Also it needs to be used for the business.

Tread carefully.

 

[carsly]

you should also have commercial auto insurance, which generally costs more than personal, and should have at least one other personal vehicle for your use. if you have two drivers, then two personal vehicles plus the company vehicle. is this a rule? no. but helpful if you have an audit.

 

[The Tumbler]

Own a business and registration is in business name then maybe. Talk to your accountant
https://www.irs.gov/credits-deductions/commercial-clean-vehicle-credit

No limits on price or income for this $7500 federal credit

Correct!

 

[Don Draper]

This isnt has easy as the Tiktokers would have you believe. There are pretty clear guidelines that work to prevent tax fraud. You have to have a business with revenue, not just something you slapped together to get tax advantages. Also it needs to be used for the business.

Tread carefully.

you should also have commercial auto insurance, which generally costs more than personal, and should have at least one other personal vehicle for your use. if you have two drivers, then two personal vehicles plus the company vehicle. is this a rule? no. but helpful if you have an audit.

If you are lucky enough to have USAA the have great rates for company car insurance.

 

[LuvOrH8]

Own a business and registration is in business name then maybe. Talk to your accountant
https://www.irs.gov/credits-deductions/commercial-clean-vehicle-credit

No limits on price or income for this $7500 federal credit

I am planning to do this. Just hoping it doesn't trigger an audit, but based on what I see and read, it shouldn't be a problem.

 

[fgaryamy]

You owe me a beer! If I drank.
So going to use this to my advantage with my powershare installer. His assistant said he has a Cybertruck on order and he is really excited to do my estimate. So when I meet him I will tell him, if you give me a really great deal I will save you $7500 on your Cybertruck purchase!
Sound good?

Let us know what he charges for the install. (before the discount so I can know how much it will cost me.)

 

[Don Draper]

Let us know what he charges for the install. (before the discount so I can know how much it will cost me.)

Will do my friend. Met with him this morning, he was very grateful for the Tax Credit tip.
Seems most installers are not even up to speed yet and he told me that they don't even have approval in Arizona to get these in yet. I think maybe I knew more about the tech than he did but now near as much about his profession. He was under the impression that you had to bring into the Tesla PowerShare box all circuits that would be used during backup. But I have seen some installs where they just bridge your power from the utility to your main for whole house backup. My only issue would be one A/C compressor that is over the limit, but he said we could use possibly a Soft Start box for about $400 to solve that issue.
I think he will be honest and reasonable. Even though he has a Cybertruck on order, he didn't have any details on the Tesla Beast getting a $4000 install credit VS no credit for AWD. I did my job and schooled him on the latest news. Told him some installers were gouging customers because of the $4K credit and now Tesla has eliminated it.
Will keep you posted but I think it is going to be a while.
He recommended this product for my A/C Issue:
https://www.microair.net/pages/easy...Xd1jGZz143f8d0SXdD8-gI4fGhRc7kohoCDxoQAvD_BwE

 

[fgaryamy]

Will do my friend. Met with him this morning, he was very grateful for the Tax Credit tip.
Seems most installers are not even up to speed yet and he told me that they don't even have approval in Arizona to get these in yet. I think maybe I knew more about the tech than he did but now near as much about his profession. He was under the impression that you had to bring into the Tesla PowerShare box all circuits that would be used during backup. But I have seen some installs where they just bridge your power from the utility to your main for whole house backup. My only issue would be one A/C compressor that is over the limit, but he said we could use possibly a Soft Start box for about $400 to solve that issue.
I think he will be honest and reasonable. Even though he has a Cybertruck on order, he didn't have any details on the Tesla Beast getting a $4000 install credit VS no credit for AWD. I did my job and schooled him on the latest news. Told him some installers were gouging customers because of the $4K credit and now Tesla has eliminated it.
Will keep you posted but I think it is going to be a while.
He recommended this product for my A/C Issue:
https://www.microair.net/pages/easy...Xd1jGZz143f8d0SXdD8-gI4fGhRc7kohoCDxoQAvD_BwE

Thanks. Good info. I don't expect my CT for a month or more. I just placed the order about a week ago, and the only ones I've seen with a quick move from order to vin were the Stockholders who got special treatment.

And, yes, please keep me posted on the install cost.
Thanks.

Sponsored