Reduce Energy Consumption and Save on Your Taxes
The “Go Green” movement is an initiative that has been around for years and is continuing to gain momentum. Saving the planet by reducing waste and energy consumption is important to consumers, and a wide variety of companies are taking steps to do their part to contribute.
Benefit the Environment While Benefiting Your Wallet
Reducing total energy consumption not only benefits the planet, but also improves a company’s bottom line. When the total energy consumption in a building or home is lowered, the overall energy usage decreases, which in turn, decreases total energy spent, leading to a significant deduction on energy bills. Many people are unaware that there are significant tax incentives that can be claimed as a reward for energy efficiency.
Earn Significantly for Energy Efficiency
Specialty areas of the tax code allow for significant deductions and credits to be taken advantage of for the purpose of reducing taxable income and saving money overall on taxes.
The 179D Energy Efficient Tax Deduction is extremely beneficial to commercial building owners and hotel owners. Buildings that are designed, constructed or renovated to incorporate energy-saving systems can qualify for the lucrative deduction, which allows for a deduction of up to $1.80 per square foot. Architects can also take advantage of the deduction for any government-funded projects that they work on. Learn more about this deduction.
The 45L Energy Efficient Home Credit is a similar energy-efficient tax incentive, that rewards building owners who incorporate energy saving systems into their homes, condos, or apartment buildings. Top-dollar credits as high as $2,000 per qualifying units can be obtained. Learn more about this credit.
The Difference is Top-Dollar Savings
National Tax Group is comprised of tax professionals with over 50 years of experience in the tax-saving industry. Obtaining top-dollar benefits from specialty areas of the tax code is our top priority and what we strive to do every single day. Our assessment of benefits is always free. We’ll work together to determine your eligibility and then provide all documentation needed to obtain these energy-efficient based tax incentives.