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Monday, October 30 2017

Did you go green?  You may get some back if you bought any of these:

Credit amounts for qualified vehicles. Following is a list of the credit amounts for qualified vehicles that are autos and are manufactured by well-known companies, using the latest data published by IRS (model years are in parentheses):

  • Audi A3 e-tron (2016-2017), $4,502
  • Audi A3 e-tron ultra (2016), $4,502
  • BMW i3 Sedan with Ranger Extender (2014-2017), $7,500
  • BMW i3 Sedan (2014-2017), $7,500
  • BMW i8 (2014-2017), $3,793
  • BMW X5 xDrive40e (2016-2018), $4,668
  • BMW 330e (2016-2018), $4,001
  • BMW i3 (60Ah) Sedan (2017), $7,500
  • BMW 740e (2017), $4,668
  • BMW 530e (2018), $4,668
  • BMW 530e xDrive (2018), $4,668
  • BMW 740e xDrive (2018), $4,668
  • MINI Cooper S E Countryman ALL4 (2018), $4,001
  • FCA North American Holdings, Fiat 500e (2013-2017), $7,500
  • Chrysler Pacifica PHEV (2017), $7,500
  • Ford Focus Electric (2012-2017), $7,500
  • Ford C-MAX Energi (2013-2017), $4,007
  • Ford Fusion Energi (2013-2018), $4,007
  • General Motors Cadillac ELR (2014, 2016), $7,500
  • General Motors Cadillac CT6 PHEV (2017), $7,500
  • General Motors Chevrolet Volt (2011-2018), $7,500
  • General Motors Chevrolet Spark EV (2014-2016), $7,500
  • General Motors Chevrolet Bolt (2017), $7,500
  • Kia Soul Electric (2015-2017), $7,500
  • Kia Optima PHEV (2017), $4,919
  • Mercedes-Benz smart Coupe/Cabrio EV (2013-2016), $7,500
  • Mercedes-Benz B-Class EV (2014-2017), $7,500
  • Mercedes S550e PHEV (2015-2017), $4,043
  • Mercedes-Benz GLE550e 4m PHEV (2016-2017), $4,085
  • Mercedes-Benz C350e PHEV (2016-2017), $3,000
  • Mitsubishi i-MiEV [Electric Vehicle] (2012, 2014, 2016, 2017), $7,500
  • Nissan Leaf (2011-2017), $7,500
  • Porsche 918 Spyder (2015), $3,667
  • Porsche Panamera S E Hybrid (2014-2015), $4,752
  • Panamera 4 E-Hybrid (2018), $6,670
  • Porsche Cayenne S E-Hybrid (2015-2018), $5,336
  • Tesla Roadster (2008-2011), $7,500
  • Tesla Model S (2012-2017), $7,500
  • TeslaModel X (2016-2017), $7,500
  • Tesla Model 3 Long Range (2017), $7,500
  • Toyota Prius Prime Plug-in Hybrid (2017), $4,502
  • Toyota Prius Plug-in Electic Drive Vehicle (2012-2015), $2,500
  • Toyota RAV4 EV (2012-2014), $7,500
  • Volkswagen e-Golf (2015-2017), $7,500
  • Volvo XC90 or XC90 Excellence (2018), $5,002
  • Volvo XC60 (2018), $5,002
  • Volvo S90 (2018), $5,002
  • Volvo XC-90 T8 Twin Engine Plug in Hybrid (2016-017), $4,585
Posted by: Shelli Dodson AT 05:08 pm   |  Permalink   |  Email
Wednesday, January 20 2016
 
 
 
Posted by: Shelli Dodson AT 06:49 pm   |  Permalink   |  Email
Monday, January 04 2016

Congress finally took action in late December and passed a tax extender bill formally known as the Protecting Americans from Tax Hikes Act of 2015 (PATH), which was then signed into law. Retroactive to January 1, 2015, many tax provisions were made permanent while others were extended through 2016 or 2019. Let's take a look at some of the tax provisions most likely to affect taxpayers when filing their 2015 tax returns. READ MORE -->

Posted by: Shelli Dodson AT 04:04 pm   |  Permalink   |  Email
Monday, January 04 2016

Beginning Jan. 1, 2016, the standard mileage rates for use of an automobile will be:

  • 54 cents per mile for business miles driven, down from 57.3 cents
  • 19 cents per mile driven in medical or moving purposes, down from 23 cents
  • 14 cents per mile driven in service of charitable organizations, which remains unchanged from 2015

For purposes of computing the allowance under a fixed and variable rate (FAVR) plan, the standard automobile cost may not exceed $28,000 ($31,000 for trucks and vans).

The updated rates are effective for deductible transportation expenses paid or incurred on or after the effective date; and for mileage allowances or reimbursements paid to, or transportation expenses paid or incurred by, an employee or a charitable volunteer on or after Jan. 1, 2016.

Posted by: Shelli Dodson AT 01:05 pm   |  Permalink   |  Email
Monday, January 04 2016

On Dec. 28, 2015, the U.S. Department of the Treasury and the Internal Revenue Service (IRS)announced a limited extension of the early 2016 due dates for the 2015 information reporting requirements for employers and insurers under the Affordable Care Act (ACA).

Specifically, this notice extends by two months the February 1 due date for employers and issuers to provide individuals with 1095 forms reporting on offers of health coverage and coverage provided. The February 29 and March 31 deadlines for reporting this information to the IRS (by paper or electronically, respectively) are extended by three months.

The extended deadline dates for reporting 2015 information is as follows:

  • Employers must provide 1095 forms to employees by March 31, 2016.
  • Employers filing by paper (249 or less 1095 forms) must file with the IRS by May 31, 2016.
  • Employers filing electronically (250 or more 1095 forms) must file with the IRS by June 30, 2016.
Posted by: Shelli Dodson AT 01:03 pm   |  Permalink   |  Email

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