Background The Alternative Simplified Credit (ASC) calculation was added by the Tax Relief and Health Care Act of 2006 and is available for tax years ending after December 31, 2006. The ASC allows a tax credit of up to 14% of a taxpayers excess qualified research expenses (QREs) over a base amount. The base amount … Read More
Tax Insight
Tax Relief Act (H.R. 4853) Overview
Summary of H.R. 4853 Benefits 100% Bonus Depreciation & Extension of 50% Bonus– Temporary 100% bonus depreciation deduction for qualifying property placed in service between 9/9/10 and 12/31/11. 50% Bonus Depreciation provisions have also been extended through the end of 2012 (2013 for certain property). 15-Year Life for Qualified Real Property – 2-year extension … Read More
Alternative & Renewable Energy Tax News Alert
Senate begins consideration of tax “extenders” package including one-year extension of Treasury grant programOn Thursday evening, the Senate began consideration of a bill (H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010), that includes two-year extensions of Bush-era tax cuts for all taxpayers, changes to the estate tax, and a … Read More
Green Buildings Are Green in More Ways Than One
The trend toward energy efficient building construction is saving on not only energy costs, but also on taxes for building owners and developers.Gian Pazzia, a shareholder in tax credit specialist KBKG Inc., told an audience at the Accounting Today Growth & Profitability Summit in Orlando last week about the expanding array of tax incentives available … Read More
Tax Incentives Available for Green Building Construction
Several lucrative federal tax incentives have been extended and enhanced for energy efficient design, construction, and improvement of buildings and homes. Companies that developed properties without necessarily trying to “go green” are often pleasantly surprised to discover that they qualify for these credits and deductions. The types of taxpayers that are likely to benefit from … Read More
KBKG Tax Insight: Affordable Housing Developers & Investors Can Now Reap an Additional $2,000 Tax Credit for Each Unit Leased in 2017
Affordable housing developers benefit from various tax credits from Low-Income Housing Tax Credits to Rehab Credits, yet they often fail to claim a tax credit that is geared towards their developments: the Section 45L Tax Credit. Section 45L is a commonly overlooked section of the tax code that was recently renewed and rewards energy efficient … Read More