There are many developers losing thousands/millions annually simply because they do not request a complimentary consultation on the tax credits and incentives available to them. It is important to find out what is due you as a developer. It may be costing you thousands (and even millions for larger developers) in tax credits and incentives owed to you and your business. Request your complimentary consultation today. It costs you nothing but a little time to find out what is due you; it costs you a lot if you do not ask what credits and incentives are available and due you.
Go to this link to find out what is due to you and your business in tax credits and incentives. While you are building homes, a tax credit and incentive expert will help you build a better financial future.
EPACT §179D TAX DEDUCTION
The Energy-Efficient Commercial Building Tax Deduction applies to expenses incurred for energy-efficient construction or retrofit. If your company owns or leases commercial buildings, including certain residential buildings, you may be eligible to deduct part, or all of the costs, associated with the installation or retrofit. The deduction is available for new construction and existing buildings as well as for tenant-owned improvements and primary designers of government-owned buildings. It is specifically for lighting, HVAC and hot water systems, and building envelope and provides a deduction of up to $1.88 per square foot for projects, placed
in service before 1/1/2023. Starting in 2023, the Inflation Reduction Act increased the tax deduction $2.50-5.00 per square foot for qualifying properties and allows the designers of energy-efficient building owned by non-governmental, tax-exempt entities to qualify, for the deduction.
45L FEDERAL TAX CREDIT
The §45L Federal Tax Credit is an energy-efficiency incentive for residential units that became effective 1/1/2006 with the passage of the Energy Policy Act (EPAct) and is the residential counterpart to §179D. It offers developers a means to offset the costs associated with building energy-efficient single family or multifamily properties. The $2,000 credit provides a dollar-for-dollar offset against taxes owed or paid in the tax year in which the property is sold or leased.
Taxpayers may amend the prior 3 tax years to claim credits. Unused general business credits are carried back one year and then carried forward for up to 20 years. The Inflation Reduction Act extended the 45L tax credit through 2032, and increased the tax deduction to $2,500 or $5,000 per dwelling unit for qualifying properties, which now use Energy Star certification.
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