WASHINGTON DC - Consumers no longer have to wait to file their annual tax returns to get a tax break for the purchase of a new electric vehicle. At the start of 2024, the federal “new clean vehicle” tax credit became available as a point-of-sale discount — worth up to $7,500 — at car dealerships.
ANN ARBOR - Congress recently unveiled a draft proposal to expand refundable tax credits up to $12,500 for individuals who purchase qualified plug-in electric vehicles – including battery electric, plug-in hybrid, and, for the first time, fuel cell electric vehicles. The proposed program to “green the fleet” is part of the Build Back Better spending bill
LANSING - The American Rescue Plan Act of 2021 (ARP) allows small and midsize employers, and certain governmental employers, to claim refundable tax credits that reimburse them for the cost of providing paid sick and family leave to their employees due to COVID-19, including leave taken by employees to receive or recover from COVID-19 vaccinations.
LANSING - A tax credit to ease the cost of broadband internet service is among the recommendations of a state task force examining the status of broadband use in the state and ways to increase access. The report, the product of the Michigan Consortium of Advanced Networks, created through an executive order from Governor Rick Snyder,
LANSING - Michigan lawmakers last week introduced legislation to restore a state angel investment tax credit that would allow an investor to receive a 20-percent tax credit against the state’s personal income tax for qualified angel investments. The two bills were sponsored by state Rep. Jeff Farrington, a term-limited Republican from Macomb County. Farrington’s bills
DETROIT - Another year is winding down and tax season is just around the corner. It is time to get everyting in order to maximize your potential credit and improve your ROI. Michigan Mobile Musings Host Melissa Bernie interviewed Andy Lane, Partner and Co-Founder of Tri- Merit, a professional services firm specializing in the calculation, documentation, and substanition of R&D tax credits and other specialty tax
