Watch this video with YFP Director of Tax, Sean Richards, CPA, EA for what you need to know about the Inflation Reduction Act.

Upcoming Tax Changes

These are additional inflation reduction act credits that begin in 2023:

• Energy efficient home improvement credit increased to 30% of installation with a $1,200 annual credit
• Clean vehicle credit
• Credit for previously owned clean vehicle
• Credit for qualified commercial clean vehicles
• Energy, carbon capture, manufacturing, and fuel production tax credits and investment tax credits