Tax Benefits for Green Homes: ENERGY STAR vs. ZERH
The landscape of residential construction is shifting significantly towards energy efficiency, especially now that the federal government has upgraded a powerful tax benefit program to drive this change: the §45L tax credit. This credit offers substantial advantages for developers constructing homes that meet specific energy-efficient standards. Let’s understand how green home developers can maximize §45L […]
Maximizing Benefits for Developers with the §45L Tax Credit
The §45L Energy-Efficient Tax Credit presents a fantastic opportunity to slash your tax bill while creating eco-friendly living spaces. Not only does §45L contribute to a healthier environment by reducing greenhouse gas emissions and total energy consumption, but it also offers significant financial benefits to developers. If you are the developer of apartments, condominiums, single-family […]
How the 45L Tax Credit Promotes Green Homes
Green building practices and the §45L Tax Credit go hand and hand. At Walker Reid, we’re passionate about empowering developers to embrace sustainability, and the §45L Tax Credit is a powerful tool that makes it more achievable than ever. Unveiling the §45L Tax Credit The §45L Tax Credit is a federal program designed to incentivize […]
Why CPA Firms Are Embracing Tax Preparation Outsourcing?
Why CPA Firms Are Embracing Tax Preparation Outsourcing In the aftermath of the tax season, CPA firms are still caught up in a whirlwind of client inquiries, meticulous calculations, and applying for extensions. The surge in workload during this time can be overwhelming for firms striving to provide excellent service to their clients. Amidst this […]
Uncovering Untapped Tax Benefits: How 2020-2022 Residential Projects Can Still Benefit From The $2,000 Per Unit §45L Tax Credit
In the world of residential real estate, developers continually seek avenues to maximize returns on investment (ROI) in an industry known for tight margins. We’ll take a look into the advantages of §45L tax credit, focusing on how incorporating energy-efficient features promotes sustainability and leads to a potentially $2,000 per unit tax credit. Understanding the […]
Disaster Relief has Extended Some Corporate Tax Filing Deadlines
Disaster Relief has Extended Some Corporate Tax Filing Deadlines Each year, the IRS extends special tax provisions to businesses that have been disaster-impacted. These tax provisions are typically issued when the federal government has declared the business’s geographic area as a major disaster area. If your business is filing Section 179D or Section 45L […]
Case Study 8 of 8: Qualifying as a designer of energy-efficient properties
Case Study 8 of 8: Qualifying as a designer of energy-efficient properties Our final review of the IRS case studies in Memorandum AM 2018-005 wraps up our series examining eight scenarios that help clarify the confusion that can surround a successful §179D tax deduction allocation. As IRS §179D tax deduction allocations have been […]
Case Study 6 of 8: Qualifying as a designer of energy-efficient properties
Case Study 6 of 8: Qualifying as a designer of energy-efficient properties The framework of Internal Revenue Code §179D has guided property owners in establishing whether their projects have achieved the necessary energy and power cost savings to claim a tax deduction. Last year, this updated deduction became permanent through the passage of the […]
Case Study 5 of 8: Qualifying as a designer of energy-efficient properties
Case Study 5 of 8: Qualifying as a designer of energy-efficient properties Construction contractors and designers are very interested in requesting the IRC §179D deduction from owners of qualifying energy efficient commercial building properties (EECP). This tax deduction, which was initially part of the Energy Policy Act of 2005, has become permanent and updated […]
What are the 2023 updates to Form 8908?
What are the 2023 updates to Form 8908? Form 8908 is the document eligible contractors use to claim the Section 45L tax credit. This IRS credit incentivizes homebuilders and developers to construct energy-efficient residential properties. Continuing to leverage this credit provides substantial tax benefits and actively contributes to promoting sustainable and eco-friendly housing options. […]
