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Since I'm a newbie to the EV market, I was surprised to recently learn that any tax incentive on eligible EVs is a tax "credit" against liabilities, and can only be used to reduce your tax liability to zero. With this said, if I am considering an outright purchase of the Ocean and taking advantage of the Federal $7,500 credit then it appears I need to change my current tax deductions, which usually cover my liabilities within a +/- $1,000, so that I increase my FY 2023 tax liability in order to take advantage of the full amount of the credit. Besides changing my deductions are there any other ways, besides the obvious of earning more money, that would increase my current tax liability at the end of next year, or does anyone know of an online tool to help?
Also, am I correct in assuming if I decide to lease the Ocean, then Fisker will receive the tax credit, but they are not legally obligated to pass this savings on to the lease by way of a reduction in lease price?
Also, am I correct in assuming if I decide to lease the Ocean, then Fisker will receive the tax credit, but they are not legally obligated to pass this savings on to the lease by way of a reduction in lease price?