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How Your Next Vehicle Could Save on Income Taxes

How Your Next Vehicle Could Save on Income Taxes

Did you know you could save up to $7,500 on your next vehicle — if that vehicle happens to be an all-electric or plug-in hybrid car?

And that doesn’t even count any savings on fuel at the pump by using an electric vehicle!

Most business people are aware that they can write off some of the costs of operating a standard gasoline- or diesel-based car, truck or van for business use. Whether by keeping track of actual operating expenses, or using the standard mileage deduction, you can get a tax write off for business use of a vehicle.

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