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WTB Autopilot Tesla using tax credits

Discussion in 'Want to Buy' started by kwwh, Jun 15, 2016.

  1. kwwh

    kwwh New Member

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    Location:
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    I have a surplus of federal tax credits from solar installs. It works in the same way as your $7500 tax credit from buying your Tesla. If you have a Tesla for sale and also have a large amount of tax liability, we should talk. Shoot a PM for more info.
     
  2. HankLloydRight

    HankLloydRight Fluxing

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    How does this work?
     
  3. kwwh

    kwwh New Member

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    Usually I tell people there is a wonderful website run by the University of North Carolina and the Department of Energy that does a nice job explaining and tracking tax benefits of solar: Database of State Incentives for Renewables & Efficiency® - DSIRE . More specifically: DSIRE

    So your CPA understands:

    We own a solar leasing company (a true lease under IRS rules) so we own the tax benefit. Under the Health Care Reform act we can transfer just the tax benefits. We usually do a blend of Net Operating Loss (NOL) and the Investment tax credit (ITC). The NOL lowers your income (saving both federal and state taxes) and the ITC pays the federal tax. The ITC is a dollar for dollar credit – works just like you paid with cash, and can cover AMT.

    Basically, you become a .01% owner of the company and the company gives you a K-1 form distributing the tax savings.
     
  4. HankLloydRight

    HankLloydRight Fluxing

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    Thanks. I don't have a car for sale, I was just curious what the overall concept was.
     
  5. Bishop

    Bishop Member

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    so what if i want to be a .5 owner ? what will is cost me ?
     
  6. Jeffsale

    Jeffsale Member

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    Location:
    Phoenix
    I have a 2016 s model 90d I just want cash save your tax credits I don't pay taxes don't believe it just buy my car cheap 90 Grand work
     
  7. JTMedEd

    JTMedEd Member

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    Jun 27, 2016
    Messages:
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    I recently bought a S 90D but decided instead to go with a Model X. Was going to trade it into Tesla, but would be willing to talk. Drop me a note....
     

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