Solar Tax Plan
There is so much more to solar tax benefits than the 30% ITC credit. Additional benefits can be more beneficial than the 30% credit itself. What if you could get back 40%, 50%, 60%, or even 70% of your investment in solar through tax benefits? You can! We are here to help you analyze your purchase decision, prepare tax forms, and even advise your own CPA on tax benefits you are entitled to. Our team of CPAs, Attorneys, Financial Advisors, and others ensure compliance throughout the process and provide protection in the case of IRS audits. Investing in solar is a no brainer! Let us show you why.
Real Solar Tax Client Example
Taxable Income: $250,000
Total Tax Bill Before Solar Tax Planning: $48,020
Solar Purchase Price: $31,332
Solar ITC Tax Credit: $8,146
ADDITIONAL TAX INCENTIVES: $11,176
Total Tax Benefits: $19,322
62% Recovered In First Year!
The Inﬂation Reduction Act has set the Investment Tax Credit for homeowners and businesses at 30% through the year 2032.
No need to worry. As a resource to you, we will provide a walk-through video to help you insert your solar tax forms into Turbo Tax or other self-serve tax Software.
We encourage you to continue working with your current tax professional and will help answer their questions as needed. In some cases, a tax professional is not familiar enough with the taxation of energy credits. If that is the case, our Attorneys and CPAs can help ﬁle your taxes with the necessary solar tax documents.
A nonrefundable tax credit can only be used to decrease or eliminate a tax liability. A taxpayer will not receive a tax refund for any amount that exceeds the taxpayer’s tax liability for the year.
For many, there are funds tied up in retirement accounts that will be taxable when pulled out. We will help you determine the most advantageous way to access this money without putting you in a bind for tax purposes.
Any unused tax credit will be carried forward year after year until it is all used up.
Section 25D allows the credit for property considered a dwelling and used as a residence including second homes and vacation homes.
Yes, the 30% tax credit can be claimed for a rental property or business. Whether you receive the full amount of the credit depends on the circumstances.
Solar Tax Form Preparation
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