ThomsonReuters

DECEMBER 19, 2023

Renewable energy tax credits incentivize the adoption of eco-friendly energy sources, benefiting both the environment and the economy. You must claim the credit for the tax year when the property is installed, not merely purchased. Residential Clean Energy Tax Credit If you invest in renewable energy (i.e.,

Tax 110

Tax accounting and finance Manufacturing income tax 110

CPA Practice

DECEMBER 13, 2023

Not only does the IRA provide property owners with energy cost savings but it makes it simpler and less costly to incorporate clean energy and energy storage platforms through tax credits and other financial incentives.

Tax 105

Tax cpas income tax accounting and finance 105

Withum

FEBRUARY 26, 2024

Previously, customers purchasing an EV could only apply for the credit on their individual federal income tax return, forcing them to wait up to a year or longer after purchasing the vehicle to realize the tax credit benefit. It extended the life of the credit through December 31, 2032.

Tax 52

Tax income tax tax return Sales 52

Withum

AUGUST 7, 2023

What Is the Federal Income Tax Credit for a Charging Station Utilized in a Trade or Business? Assume the charging stations meet all the requirements to be deemed qualifying charging stations for the federal income tax credits. How Do I Claim a Qualified Charging Station Federal Income Tax Credit?

income tax 52

income tax Construction Non-Profits Transportation 52

Cherry Bekaert

NOVEMBER 14, 2023

Pass-through Entity Tax Elections The pass-through entity (PTE) tax election allows partnerships and s-corporations to elect to be taxed at the entity level for state income tax purposes. The key benefit to a PTE election is the federal deductibility of the entity’s state income taxes paid.

Real Estate 109

Real Estate tax planning Construction Tax 109

ThomsonReuters

NOVEMBER 9, 2022

This credit, which is worth up to $7,500 for buyers of new all-electric cars and hybrid plug-ins, has been extended through 2032. Starting January 1, 2023, consumers are eligible for a tax credit for used or previously owned clean vehicles. . The credit will not be allowed for any vehicle acquired after December 31, 2032. .

Manufacturing 105

Manufacturing Tax income tax Sports 105

Withum

OCTOBER 2, 2023

vehicle sales to be electric by 2032. of light and medium new vehicles sold in 2032 to be electric. With significant tax legislation sunsetting in the next few years, including the top individual income tax bracket rising from 37% to 39.6% of electric vehicles sold in 2022 were of new light-duty sales.

Washington 72

Washington income tax Tax Sales 72