CPA Gurus LLC

If you have a business and have kids, you need to implement this strategy into your business.

Hire your kids to work for you!

Under the IRS tax code if you are operating as a sole proprietor/partnership (where you and your wife are the only owners) the kids payroll is exempt from income & F**A taxes!

Don't miss out on this huge tax break from the IRS!!

Family Help | Internal Revenue Service One of the advantages of operating your own business is hiring family members. However, the employment tax requirements for family employees may vary from those that apply to other employees.

New $7,500 Tax Credit Loophole for EV Leasing

The electric vehicle (EV) market is growing rapidly, but there are still some barriers to entry for consumers. One of the biggest barriers is the upfront cost of an EV. The average price of an EV is still significantly higher than the average price of a gas-powered car.

To help make EVs more affordable, the federal government offers a tax credit of up to $7,500 for the purchase of a new EV. However, there are a few restrictions on this tax credit. One of the restrictions is that the EV must be assembled in the United States.

This restriction has made it difficult for some EV manufacturers to offer the full tax credit to their customers. For example, Tesla is not eligible for the full tax credit because its cars are not assembled in the United States.

However, there is a loophole that EV manufacturers can use to offer the full tax credit to their customers. This loophole involves leasing an EV instead of buying it.

When you lease an EV, the manufacturer is the one who takes the tax credit. The manufacturer then passes on the savings to the lessee in the form of a lower monthly payment.

This loophole has allowed EV manufacturers to offer the full tax credit to their customers, even if the cars are not assembled in the United States. As a result, leasing an EV has become a more attractive option for consumers.

If you are considering buying an EV, you should definitely consider leasing one instead. Leasing an EV can save you a significant amount of money, and it can also give you the opportunity to try out an EV before you buy one.

Here are some of the benefits of leasing an EV:

You can save money on the upfront cost of an EV.
You can take advantage of the full federal tax credit, even if the EV is not assembled in the United States.
You can have a new EV every few years.
You can avoid the hassle of selling your EV when you're ready for a new one.

If you're interested in leasing an EV, I recommend that you contact your local EV dealership. They can help you find the best lease deal for your needs.

Here are some of the EV manufacturers that are currently offering the leasing incentive:

- Audi
- BMW
- Cadillac
- Chevrolet
- Chrysler
- Ford
- Hyundai
- Kia
- Mercedes-Benz
- Nissan
- Porsche
- Volkswagen
- Volvo

If you're interested in leasing an EV, I recommend that you contact your local EV dealership to see if they are offering the leasing incentive.

CPA Gurus LLC