Green Tax Credits Are Ending: Don’t Miss the Deadline!
Thinking of buying an EV or solar panels for your home? You need to speed up the decision-making, because things are changing fast in the world of tax credits. With OB3 passing, those green tax credits are going away this year, so get buying if you’re going to.
Your EV Tax Break Is on the Clock
That’s right, electric vehicles were a good way to get green tax credits before, but that’s out as of September 30th, 2025. Credits for both new and used vehicles are ending, so if you’re considering getting an EV, make that purchase soon.
Unfortunately, in order to receive the credit, the vehicle must actually be in your possession by September 30th, 2025. It doesn’t count if you have ordered it or just made the purchase, so keep this in mind as you shop. Some dealerships have long delays on their cars and you may not get it in time. There’s also no transition relief for any contracts in place.
Last Call for Window, Solar, and Furnace Credits
If you’ve been considering updates to make your home more energy efficient, now is the time. You have until December 31st, 2025 to finish up all the improvements and still get those tax credits. Any type of home energy adjustments need to be completely installed and in service by the deadline in order to receive credits.
What’s covered under home energy credits? You can receive tax credits for:
Windows and doors
Insulation
Furnaces
AC
Solar panels
Home energy audits
Geothermal systems
Book those contractors as soon as possible! You’re not the only one who needs to finish projects by the end of the year, so anyone who installs any of these upgrades will be booked soon.
Remember to check with your tax expert before making any upgrades to your home, to ensure you get as much benefit as possible.
Missing the Deadline Could Cost You Thousands
With several deadlines to keep track of, it’s easy to miss something. This is one area where planning ahead could save a lot of money, allowing you to save hundreds or even thousands of dollars with tax credits.
Once these benefits are gone, there is no guarantee they’ll come back in the future, so take full advantage! Now is the time to make those home improvements or buy that EV that you’ve been considering. But don’t forget to look at all the factors and make sure your plan will actually get you those tax credits. A tax expert can advise you better on how to get the most bang for your buck.
How a Tax Expert Can Help
If you’re even THINKING about making energy upgrades to your home or buying an electric vehicle, now is the time to talk to your tax advisor. You have a limited amount of time to lock in those credits before 2025 ends, so it pays to have some help with the decision-making process.
Ready to discuss 2025 energy credits? Ask Anna Tax is here to help. Let me know what you’re thinking of upgrading or buying and we’ll figure out the best way to make it benefit you and save money.
