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site design by digitalstoryteller.io
IRA account value down? It might be a good time for a Roth conversion
/in Tax Tips - Individual/by Amanda RogersMany people are wondering what they can do to cope with the current financial situation that is occurring due to the coronavirus (COVID – 19) pandemic. One area that you may want to take a look at are your retirement accounts.
The tax code provides a credit to purchasers of qualifying plug-in electric drive motor vehicles including passenger vehicles and light trucks. The credit is equal to $2,500 plus an additional amount, based on battery capacity, that can’t exceed $5,000.
COVID-19 makes favorable changes to “qualified improvement property” – 100% bonus now or retroactive!
/in Tax Tips - Business, Tax Tips - Individual/by Amanda RogersAlthough electric vehicles (or EVs) are a small percentage of the cars on the road today, they’re increasing in popularity all the time. And if you buy one, you may be eligible for a federal tax break.
The tax code provides a credit to purchasers of qualifying plug-in electric drive motor vehicles including passenger vehicles and light trucks. The credit is equal to $2,500 plus an additional amount, based on battery capacity, that can’t exceed $5,000.