Electric-Car Charging-Station Tax Credit Expires On Dec 31stElectric-Car Charging-Station Tax Credit Expires On Dec 31st

Electric-Car Charging-Station Tax Credit Expires On Dec 31stElectric-Car Charging-Station Tax Credit Expires On Dec 31st

December 1, 2013
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Consider this your last warning: If you’re planning on getting a charging station for a plug-in electric car, you only have 30 days.
More specifically, at least, you’ll have to get it up and running by December 31 this year in order to take advantage of a  Federal income-tax credit of 30 percent of the cost of purchase and installation.
The credit covers 30 percent of the cost of purchase and installation, up to a maximum of $1,000, for installing an electric-car changing station in a private home. 
(You’ll want to use Form 8911 when you file your taxes early next year.)
The tax credit was renewed for this year only as part of a package of legislation that ended the fiscal-cliff debacle on January 1 this year.
A credit for 10 percent of the purchase price of an electric motorcycle or three-wheeled vehicle was also renewed, and also expires again on December 31.
(That one’s Form 8834.)
Given the current gridlock in Congress, neither credit is expected to be renewed before the end of the year.
As always, we suggest that you check with the list of incentives maintained by advocacy group Plug-In America, which is available online.
And always be sure to check with a tax advisor if you have any questions, or aren’t 100 percent sure that you qualify for one or more of these credits.
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