Tax Warrior Chronicles

Electric Vehicle Tax Credit Explained, Tesla No Longer Eligible

Posted on Mon, Feb 15, 2021

By; Sam Battista


To protect the environment and combat climate change, Congress passed laws resulting in Internal Revenue Code Section 30D, which provides a tax credit for the purchase of qualified electric motor vehicles. Let's discuss what vehicles qualify and other important details about the Plug-in Electric Drive Motor Vehicle Credit. Aspiring Tesla owners should pay close attention.

Read More

Small Window of Opportunity to Combat New Proposed Regulations from IRS Regarding Contributions in Exchange for State and Local Tax Credits

Posted on Fri, Aug 24, 2018

By: Daniel Marques, CPA, MST


In May, we blogged on the IRS announcement that state & local tax deduction workarounds created in response to the Tax Cuts and Jobs Act (TCJA) would come under scrutiny.  As promised, the IRS recently released proposed regulations addressing these workarounds and the regulations are not taxpayer friendly.  However, there is a small window of opportunity for some taxpayers to take advantage of these programs before August 27, 2018.

Read More