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How do I make sure I can take full advantage of the current or upcoming EV tax credit? Is it as simple as updating 4(b) on my W4 to allow for an extra $7500 deduction?
I plan on buying a new electric car next year. Although we do not have a guarantee on the new proposed bill of updated tax credits, I will still focus on grabbing the existing $7500 for an eligible vehicle. I never owe taxes and always get a refund. Can I just update my W4 to have a large deduction to make sure I get to use my full tax credit?
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‎December 2, 2021
9:47 AM