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This video is based on their lease program. Also, it doesn't work exactly like how Elon said (maybe it did when this video was made in 2003). Based on my conversation with Tesla's Finance Dept, this is what I got: LEASE: The down payment is reduced by the State's Rebate (if there is one for...

If it's a Traditional IRA, why not just convert it to a Roth IRA and pay the income tax on it instead of taking a distribution? There are no penalties for a conversion and generally no limits either. That is what I would do... Roth IRA Conversion Rules | Can You Convert from a Traditional IRA...

I signed it today too :)

Personally I would always claim as many dependents as I legally could since it gives me an extra income tax deduction (you are leaving money on the table if you don't). If you have a dependent, I would claim them unless someone else can claim them and benefit instead. I can only see one reason...

I agree. It is crazy to read erroneous information on Forbes, LA Times, Bloomberg, Motley Fools, etc. These are reputable sites that should check facts. It makes you think twice about believing news sites.

Putting on more dependents would not increase your tax liability. Haha, it is kinda funny because most of us want to pay less tax, but because of these tax credit we want to pay more tax. Here are some ideas to generate more taxable income: 1. Make more money (pick up more work - i.e. drive for...

True that. You can probably just plug at a local supercharger and sleep there through the night. Free heat and power. Stick a power plug adapter into the cigarette lighter and power your devices. There is no carbon monoxide so you don't have to worry about dying from poisoning. Also the car...

There are no caps or limits. It is as many as Tesla can deliver during that time period :).

I thought I did. Sorry if I didn't. Yes, it is based solely on time (the 200K number merely triggers the phaseout process). The phaseout is up to 18 months at best and 15 months at worst (see page one of this post for the breakdown of how the phaseouts work). I personally think most people will...

There is no income limit for the Federal $7500 Tax Credit. However, there are some income limits for California's $2500 rebate. Some other states may impose a income limit for their state credits/rebate. So far Louisiana is the best. They have up to an extra $9500 in tax credits. That means you...

Hey Dukester, the income limit is ONLY for the California State EV Rebate of $2500 (I am sure other states have other restrictions). To my knowledge there is NO income limit for the Federal $7500 tax credit as your post is talking about. In my opinion, even if you ordered today (maybe position...

You are correct...I really mean "I think that most buyers will receive some tax credit ($7500, $3750, or $1875)". I wish I could edit posts to adjust mistakes/misstatements. Do you know of anyways to do that here on this forum? I tried looking and there is no editing once I post.

INTERESTING...It does not seem like I can edit a post after it has been made. Sorry but I made a typo on the "If you make $25,000 a year". The figures shown in this example are if you make $35,000 a year.

I think that is a decent strategy. There is some stuff in the code about it having to be for personal/business use and not intended for resale BUT how the heck is IRS going to find out and are they seriously going to audit you out of millions of other people. I know some people in this forum...

NICE! Two thumbs up to you. If you enjoy leasing your vehicles you should look at utilizing a Multiple Security Deposit (MSD) to lower the Money Factor a.k.a. Interest. Some car manufacturers allow MSDs to lower the interest rate and your deposits are guaranteed. So you can view it as a risk...

Thanks for sharing. Great find. You are right, in 2015 approximately 50% of all Model S were delivered in the US based on that data. Honestly...way more than I thought.

I agree. You gotta enjoy life sometimes and live a little BUT being smart with money is also important. Just gotta find the balance between the two. If someone makes $35K a year, lives with their parents, has little liabilities/debt, and wants to splurge...I say why not. At worst sell the car...

You still get the tax credit, but you probably are not going to use up the full $7500. For example, if you make $25,000 a year that means your federal income tax is $4788.75. So you can apply your $7500 tax credit against that (meaning you will get a refund of the entire $4788.75 from the IRS if...

I was just wondering where you got the half of all model S were sold in the USA? I have been trying to find some concrete numbers so that I could make a truly educated guess myself. I don't see anywhere that Tesla officially broke down sales by country. I wonder if there is some type of...

Good point. Also there is insurance and some maintenance still needed (tires, brakes, check-ups, etc). So you gotta think about the true total cost of the vehicle.

Yea...my 25% comment was just a random guess to show that all the pre-orders was not in the USA as some people are so concerned about holding high reservation number. A high reservation number is high overall but your place to get tax credits are still probably pretty darn good. I don't know...

Ditto. Me too. The tax credits sweeten the deal but I was going to get it regardless anyways! *high five*

True. Good point o_O. I would have preferred the IRS to allow rollover credits. Lower earners may have some trouble applying the full $7500. Tax Bracket Calculator - TaxACT ^^According to the above you gotta make at least $47K to pay $7500 in taxes.

Hey Alex, It is based on time. The time that the 200,000th vehicle sold is when the phaseout process starts. So technically Tesla could sell 1 million Model 3's that are eligible for credits and as long as they are delivered within the timeframe it will be eligible for some credit ($7500...

Haha oh. So it sounds like a sticky is where they put it to the front of the page or something. Anyways, everyone please spread this article around...because it is CORRECT with FACTS and LEGIT CITATIONS unlike all the media crap out intended to get more subscribers or something.

I totally agree. Elon Musk has even HINTED that on his twitter page. Haha, he suggests there may be a revenue shortfall to make our customers happy. See image of Elon's Tweet.

I am totally new to this site and I have no clue how to do that but you are welcome to make it a "sticky." I was just irritated today at all the people and co-workers even (we are in the legal/tax industry) that I talk to who keep getting misinformed by these articles. Haha, don't believe...

Well we need to consider that there is demand for this vehicle all around the world. Not all of these pre-orders are in the USA. Lets assume that 25% of all orders are USA, then at the 276,000 preorders we are still at 69,000 and of those not all of them will convert into sales so anyone...

I totally agree!!! I am a legal document specialist and I read laws and tax codes everyday. These people who write the articles fail to do any research. They just start a chain of wrong info by quoting someone who didn't know what they were talking about. I am surprised to see all the articles...

I would love to see the tax credits extended. However, I think most of us will get tax credits on our model 3's. It seems like most articles I read about the Tax Credits has been wrong and people keep spreading rumors that most Model 3 buyers won't get it. I totally think that most buyers WILL...

I am super excited about my Model 3 and it seems like most articles I read about the Tax Credits has been wrong and people keep spreading rumors that most Model 3 buyers won't get it. I totally think that most buyers WILL get some Tax Credit. Below is my breakdown. Once Tesla delivers its...