08/25/2022
On 08/16/2022, the Inflation Reduction Act was passed in an effort to combat the recent inflation issue facing Americans. π²
Below are a few key tax-related takeaways:
* An Energy Efficient Home Improvement Tax Credit for new energy efficient windows, doors, heat pumps, water heaters, furnaces, biomass stoves and boilers, insulation, central air conditioners, and other residential energy efficient improvements. π΅
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* Households who install solar panels on their homes could be eligible for a tax credit. π β‘οΈ π± π΅
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* Up to $7,500 in tax credits can potentially be claimed for new electric vehicle purchases and $4,000 for used electric vehicle purchases. π π΅
Have questions? π€ We will open a Q&A on our story to answer any questions you may have. βΊοΈ