Remove 2032 Remove accounted Remove accounting and finance Remove tax return
article thumbnail

Renewable energy tax credits: Geothermal, solar, biomass, wind power, and more

ThomsonReuters

To encourage this shift, the IRS offers a range of renewable energy tax credits for alternative energy sources like solar, wind, and geothermal power. For accountants, understanding renewable energy tax credits and how they relate to individuals and businesses is essential in helping clients maximize their tax benefits.

Tax 110
article thumbnail

Understanding energy efficient tax credits

ThomsonReuters

Because tax credits are available for a wide variety of energy efficient upgrades, accountants play a pivotal role in guiding clients through claiming these tax credits, ensuring compliance with eligibility criteria, and meeting documentation requirements.

Tax 52
article thumbnail

2022 Year-End Tax Planning Checklist

Withum

For example, common states where people move to reduce state taxes are Florida, Texas, Wyoming, and Nevada. Consider increasing the amount you set aside for next year in your employer’s health flexible spending account (FSA). Tax-Advantaged Accounts. Year-End Tax Planning for Businesses. Capital Gain Planning.