TopicEnergy Efficiency - Easy Ways To Reduce Your Air Conditioning Use And Save Money
Calculate your power and Nano Towels Review energy consumption using software programs approved by the IRS to receive this deduction, and be sure to have a contractor or engineer licensed in the building's jurisdiction certify the property. If you meet these standards, you'll not only enjoy savings from the changes you've made, you'll also get to deduct part or all of the expenses involved in making them.
The maximum deduction available is $1.80 per square foot of qualifying building area. This deduction can be taken for prior tax years, if you made your modifications previously, but didn't know you could be eligible for the deduction. Multiple taxpayers may receive the deduction, but they must allocate the $1.80 per square foot among them.
If your building doesn't meet the standard of a fifty percent or greater savings, it still might qualify for a deduction. When buildings are certified to reduce energy costs by sixteen and a half percent or more, they qualify for a deduction of sixty cents per square foot.