Buying a New Fuel-Efficient Car in 2017?

The IRS still offers tax credits up to $7,500 on all-electric and plug-in hybrid cars that you would claim on your 2017 tax return.

The vehicle must:

  • weigh less than 14,000 pounds,
  • have at least four wheels,
  • be propelled to a significant extent by an electric motor that draws electricity from a battery that has a capacity of not less than 4 kilowatt hours, and
  • is capable of being recharged from an external source of electricity.

For a full list of qualifying cars by make and model, visit the U.S. Dept. of Energy’s website at: https://fueleconomy.gov/feg/taxevb.shtml

Posted in 2017 Mid-Year Newsletter

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