The issue is the cost of withdrawing that money from your account. In addition to a 10% penalty that applies if you're under 59 1/2, taxes are typically due in the year the money leaves your account.

Chow told Reuters, "We have certainly said that if you want to buy a Tesla, go ahead — but don't count on taxpayer money to subsidize it." Canada's nationwide EV rebate program was recently paused due ...

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