Get 2021 Premium and save $2000 or wait for a 2022 model?

OP
OP

Indian Stang

Member
First Name
Al
Joined
Jan 9, 2022
Threads
1
Messages
13
Reaction score
8
Location
Detroit
Vehicles
Ford Mustang GT
Country flag
Did you find one available in a dealer’s inventory with no ADM? If so, I‘d buy it now. If you have enough tax liability for two tax credits, sell the 2021 for a profit when your 2022 arrives.
Bummer. I realized that I most likely won't have enough tax liability for two tax credits. I might have to work with a financial advisor to see if I could get the liability up somehow.
Sponsored

 

RickMachE

Well-Known Member
Joined
Jul 1, 2021
Threads
200
Messages
13,135
Reaction score
17,856
Location
SE MI
Vehicles
2022 Mach-E Premium 4X, 2022 Lightning Lariat
Country flag
Bummer. I realized that I most likely won't have enough tax liability for two tax credits. I might have to work with a financial advisor to see if I could get the liability up somehow.
As you probably know, tax liability, line 24, has no relationship to tax withholding. Tax liability refers to the amount of tax that you owe based on your income. So yes, if that isn't $15,000 or more, you couldn't do two tax credits.

Assuming the law doesn't change, you need to generate more income for taxation before 2022 ends.

Options include:

- Convert a traditional IRA or 401K to Roth, which is an income-producing event.
- Have a bonus moved from 2023 to 2022, or get paid in advance for some of 2023.
- Sell stocks, bonds, or mutual funds that generate capital gains, which are taxable (in a taxable account).
 
First Name
Chris
Joined
Aug 10, 2021
Threads
6
Messages
134
Reaction score
98
Location
Charlotte Area
Vehicles
Mach-E Premium Space White
Country flag
The 2021 and 2022 batteries are identical, and in fact the update has hit the first half 2021 cars already, so it's a non-issue.

You should keep in mind that buying a 2021, in 2022, normally would be a bad thing as far as depreciation and value, vs. buying a new model 2022.

That said, if you can find one at MSRP, you might buy it.
I agree, normally. However, since they have marked the 2022's up about 3k (Premium, AWD, ER) I feel like a good chunk if not all of that depreciation and value is discounted for the 22's. Of course, with the market the way it is, who knows what will shake out over time.
 
OP
OP

Indian Stang

Member
First Name
Al
Joined
Jan 9, 2022
Threads
1
Messages
13
Reaction score
8
Location
Detroit
Vehicles
Ford Mustang GT
Country flag
As you probably know, tax liability, line 24, has no relationship to tax withholding. Tax liability refers to the amount of tax that you owe based on your income. So yes, if that isn't $15,000 or more, you couldn't do two tax credits.

Assuming the law doesn't change, you need to generate more income for taxation before 2022 ends.

Options include:

- Convert a traditional IRA or 401K to Roth, which is an income-producing event.
- Have a bonus moved from 2023 to 2022, or get paid in advance for some of 2023.
- Sell stocks, bonds, or mutual funds that generate capital gains, which are taxable (in a taxable account).
Thank you! I didn't think about the 401K to Roth option.
 

mylittlepony

Well-Known Member
First Name
Dominick
Joined
Jun 27, 2020
Threads
6
Messages
125
Reaction score
69
Location
Fallbrook
Vehicles
MachE
Country flag
As you probably know, tax liability, line 24, has no relationship to tax withholding. Tax liability refers to the amount of tax that you owe based on your income. So yes, if that isn't $15,000 or more, you couldn't do two tax credits.

Assuming the law doesn't change, you need to generate more income for taxation before 2022 ends.

Options include:

- Convert a traditional IRA or 401K to Roth, which is an income-producing event.
- Have a bonus moved from 2023 to 2022, or get paid in advance for some of 2023.
- Sell stocks, bonds, or mutual funds that generate capital gains, which are taxable (in a taxable account).
Can you sell stock holdings now for 2021 taxes?
 


RickMachE

Well-Known Member
Joined
Jul 1, 2021
Threads
200
Messages
13,135
Reaction score
17,856
Location
SE MI
Vehicles
2022 Mach-E Premium 4X, 2022 Lightning Lariat
Country flag
First Name
Chris
Joined
Aug 10, 2021
Threads
6
Messages
134
Reaction score
98
Location
Charlotte Area
Vehicles
Mach-E Premium Space White
Country flag
Just and FYI for folks, there are a couple of 2021 Premium AWD Extended Range Rapid Reds in upstate NY if anyone is interested.
Sponsored

 
 




Top