johnr
Well-known member
Gotta get me one of those! :lol: :lol: :lol:sparky said:J1772 cell phone charger adapter
Gotta get me one of those! :lol: :lol: :lol:sparky said:J1772 cell phone charger adapter
It's a "non-refundable" credit, so if you don't have any federal income tax deducted from your paycheck, or you already get all that back when you file, then it won't do you any good. But it can be used to get payroll taxes back. (Non-refundable just means you can't end up getting more from Uncle Sam than you gave him in the first place.)Joshua said:...but the issue again for me is the incentive. Is it a tax CREDIT or REBATE..?..being in a tax bracket that puts me in a position where I don't pay taxes (thank you kids and home mortgage!) the tax credit doesn't do me any good! So am I out of luck and going to have to pay full price for the charger too????
Joshua said:...but the issue again for me is the incentive. Is it a tax CREDIT or REBATE..?..being in a tax bracket that puts me in a position where I don't pay taxes (thank you kids and home mortgage!) the tax credit doesn't do me any good! So am I out of luck and going to have to pay full price for the charger too????
Joshua said:Thanks! So there is a good possibility that I can recoup at least some of the money I put in!
No - any federal income tax. If you have withholding and get a refund of only part (because you have a tax liability that has been covered by your withholding) you would still get the credit (up to your actual liability), and that would increase your refund. You only lose out if your taxable income is so small that you owe no federal income tax at all for the entire year. Not many people in the market for a new car fit this category.evnow said:Joshua said:Thanks! So there is a good possibility that I can recoup at least some of the money I put in!
So, when you say you don't have federal taxes to pay - are you just talking about final April filings ?
Rat said:No - any federal income tax.
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