The growth and popularity of everything from commuter electric bikes to hunting eBikes is astronomical. More and more people are realizing the environmental and comfort benefits of these highly useful transportation options.

One thing that a lot of buyers are starting to ask about are the cost savings advantages. Sure, a quality eBike is much better than spending a great deal of money on gas and expensive car repairs, but what about tax deductions and purchase incentives?

We always want you to get the best fat tire electric bike for your budget. Here is some updated information about the 2024 eBike tax credits and incentives to help inform your upcoming purchase.

What is a Tax Credit?

Most all-terrain electric bike tax benefits you’ll hear about are not deductions. To be clear, a tax deduction reduces the amount of taxable income you make in a given period. Instead, these are tax credits. These reduce the amount of tax you owe the IRS at the end of the year.

The 2024 tax credits for purchasing the best fat tire electric bike are designed to get more customers on the road with an affordable and eco-friendly transportation device. The government wants to make the purchase price of these incredible machines even more attractive to the general consumer.

At the federal level, this means you can benefit from programs that offer:

• Get a tax credit of up to 30% of the eBike’s cost, with a cap amount of $900.
• This only applies to eBikes purchased in the current year, under the amount of $4,000, and have a maximum speed of 28 mph.

To get the IRS eBike tax credit, you’ll need to file a manual claim with your annual tax return. Always keep your receipt and mail/upload a copy with the IRS so they have a clear record. You can learn more by visiting the official site on this credit.

What About State Credits?

If the federal government benefits weren’t enough, many states have begun offering incentives for purchasing hunting eBikes and fat tire electric bikes. Like so many countries worldwide, they are realizing the cost-benefit of having more accessible transportation to the general public. Two solid examples include:

• California:Under the Clean Vehicle Rebate Project, you can get up to $2,000 to purchase an eBike once you complete an application and meet the basic eligibility requirements.
• Colorado:Starting in April of 2024, Colorado residents can get up to $450 off any eBike purchase (at the point of sale) as long as the retailer has signed up for the program.

Many other states like Wyoming, Maine, Massachusetts, and even Washington D.C. are looking at proposals about incentives for eBikes, so be sure to look at your state’s official webpage for more information.

Want the Best Cost-Value eBike?

All these incentives and tax credits offer you a fantastic pathway to the best fat tire electric bike on the market – the Freedare Eden. While we provide an all-terrain electric bike and a commuter eBike, the Eden is an exceptionally smooth cruiser perfect for weekend excursions with friends, work urban commutes, and quick supermarket journeys for snacks.

Freedare Saiga fat tire ebike outfitted with a full anti-theft system and mobile application providing real-time updates, you get a powerful 750-watt motor that helps you travel up to 90 miles at speeds up to 28 mph. The included 4.0” fat tires offer the stability and comfort you want when moving over rain, gravel, city streets, or the occasional public park.

Learn more about how you can transform your transportation capabilities by purchasing our Freedare Eden Step-thru Electric Bike and speaking with our expert team to ensure all your questions are answered.