EXCERPT With 2024 taxes due for Massachusetts residence on April 15, why not begin the process of gathering your tax documents now? Pat Consolati owner of Consolati Tax Prep in Lee, using his 17 year tax expertise, shared the following 2024 tax updates. There are tax credits for new electric vehicles of up to $7,500. Provided that: • Final assembly is done in North America • Have a battery capacity of at least 7 kilowatt hours • Have a gross vehicle weight rating of less than 14,000 pounds • Made by a qualified manufacturer • Meet critical mineral and battery component require requirements (as of April 18, 2023) The vehicle must be on a federal list of approved vehicles are covered. For example, no Toyota vehicles qualify for this federal tax credit, Consolati said. There is also a tax credit that was new in 2024 for the purchase of used electric vehicles for up to $4000 or 30% of the purchase price, whichever is lower. Vehicles must be at least two years old and purchased from a car dealership. Income cap of 25,000 for single filers and 150,000 for married couples apply, he said. Consolati also noted some updates in Massachusetts tax deductions, which are often missed by people, including: • Deductible commuter, transit benefits, – public transit fares such as MBTA, monthly or weekly passes and EZ-pass expenses. This also includes bike, share membership and cost related to commuting by bike or electric bikes, such as: bicycle purchases, maintenance and improvement expenses, as well as deductible, commuter expenses. • Rental deduction: 50% of rent paid up to a maximum of $4,000 
 Consolati’s contract information may be found at consolatitax.com. Some taxpayers may be eligible for free tax preparation through the Volunteer Income Tax Assistance (VITA)…