Over the past few years, we have heard a lot of talk about "green construction" — buzzwords like "LEED," "alternative energy" and "sustainability." Many people, though, are wondering what the federal government is doing to incentivize construction that fits these definitions. Navigating through these complicated areas of the tax code can be confusing and difficult. Federal incentives for green construction can be separated into two areas:
- The Energy-Efficient Building Deduction (also known as "179D")
- Alternative Energy Tax Credits
It is critically important for CPA firms not only to know what programs are available, but also to know the potential pitfalls that exist for clients.
That's where McGuire Sponsel comes in. Our engineering and accounting expertise helps CPA firms tackle these complex deductions and credits and apply them successfully. If your clients have made energy-saving building improvements or recently constructed new space, they may benefit from these energy-efficient building deductions or alternative energy credits.