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Pocket a Tax Break for Making Energy-Efficient Home Improvements

RogerRossmeisl

You can claim the credit for improvements made through 2032. The credit equals 30% of certain qualified expenses for energy improvements to a home located in the United States, including: The post Pocket a Tax Break for Making Energy-Efficient Home Improvements appeared first on Roger Rossmeisl, CPA.

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Unpacking the Clean Vehicle Credits under IRA ’22

RogerRossmeisl

The credit generally applies to vehicles having >4 wheels that are placed in service from 1/1/2023 – 12/31/2032. The post Unpacking the Clean Vehicle Credits under IRA ’22 appeared first on Roger Rossmeisl, CPA. Who Qualifies You may qualify for.

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Maximizing Section 45L Tax Credits for Energy-Efficient Home Builders

Anders CPA

Request a Meeting The post Maximizing Section 45L Tax Credits for Energy-Efficient Home Builders appeared first on Anders CPA. Who Qualifies as an Eligible Contractor? To learn more about your potential tax savings from credits and deductions , and the associated cost, request a meeting with an Anders advisor below.

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Home Energy Credits Under the Inflation Reduction Act

CPA Practice

By Mike D’Avolio, CPA, JD. For property placed in service in 2023 through 2032 , the credit is increased for each tax year to 30% of the sum of: Qualified energy efficiency improvements installed during the year, and Residential energy property expenditures paid or incurred during that year.

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New Tools Help Governments Tap Clean Energy Tax Credits

CPA Practice

The IRA authorizes the program through 2032. The direct credit program is authorized through 2032, and Blanchard thinks it’s likely to be renewed. There is no limit to the number of entities that can apply for the credits or the number of projects for which any one applicant could receive them.

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Clean Vehicle Credits Under the Inflation Reduction Act

CPA Practice

By Mike D’Avolio, CPA, JD. Under the new rules, the amount of the credit will be based on two separate requirements: For electric vehicles placed in service after Dec 31, 2022 until Dec 31, 2032 , taxpayers get a $3,750 credit for meeting the critical minerals requirement. The Inflation Reduction Act of 2022 was signed into law Aug.

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What to Know about Tax Savings in the Inflation Reduction Act

CPA Practice

After your CPA teams explore the requirements to see who is eligible, clients may benefit from tax credits that cover 30% of the cost of switching over to solar power, as well as a tax credit up to $5 per square foot to support energy efficiency improvements that deliver lower utility bills.

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