Posts Tagged ‘green credits’

CNN Local Videos – Long Beach Tax Credits/ Green Jobs/ Port Expansion/ Card Check

Tuesday, March 2nd, 2010

For daily tax and economic updates, please follow me on Twitter @:

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Media Links

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Blake E. Christian

Access all my CNN Local Videos: 

http://www.hcvt.com/resources-links/media-links.html

Available Topics (please click on link above):

Blake Christian CNN inverview – Local Eco Credits / Green Jobs [36.0 MB] February 2010

Blake Christian CNN interview – California Tax Overhaul Proposal [41.1 MB] October 2009

Interview – Pros and cons of a national sales/flat tax [lieu of current fed. tax system] [40.3 MB] September 2009

Blake Christian CNN interview – The U.S. Tax Gap [40.5 MB] September 2009

Blake Christian CNN interview – Swiss and U.S. at (Tax) War [40.6 MB] September 2009

Blake Christian CNN interview – $9 Billion of New California Taxes [40.5 MB] June 2009

Blake Christian CNN interview – POLB Middle Harbor Project [40.5 MB] May 2009

Blake Christian CNN interview – Tax Planning in a Recession [40.5 MB] May 2009

Blake Christian CNN interview – Enterprise Zone Credits “Green Jobs” [40.5 MB] April 2009

Blake Christian CNN interview – Affect of Budget & Stimulus on Business [40.4 MB] April 2009

Blake Christian CNN interview – Employee Free Choice Act [40.4 MB] April 2009

Check out the full library of  tax and economic articles @: www.blakechristian.com

Jobs! Jobs! Jobs! – Obama Proposal and Existing State & Federal Hiring Tax Incentives

Saturday, January 30th, 2010

Hiring Credits – $500 to $15,000 Per Employee

Eco/ Green Credits – 10% to 50% of Equipment Costs

President Obama spent a good portion of his State of the Union Speech focused on jobs and the economy.

 Throughout California – and across the U.S. – there are literally thousands of specified “tax zones” which allow employers hiring new employees to claim valuable federal and state hiring credits, as well as other tax and economic incentives.  In addition, certain state and federal programs such as the federal WOTC program and the California new jobs credit, which apply to businesses operating in any jurisdiction with the federal or state boundaries, respectively.

 

Click here for my latest AICPA hiring credit article, and please rate it at the end of the article:

 http://www.cpa2biz.com/Content/media/PRODUCER_CONTENT/Newsletters/Articles_2010/CorpTax/Jobs_Jobs.jsp

 

Obama’s proposed $5,000 per employee hiring credit – up to $500,000 per taxpayer:

http://thehill.com/blogs/blog-briefing-room/news/78661-obama-to-roll-out-jobs-tax-credit-proposal-friday

 

 For more information regarding the California general jobs credit and the CA Enterprise Zone Program, please click on the links below:

 http://www.ftb.ca.gov/businesses/New_Jobs_Credit.shtml   $3,000 CA Jobs Tax Credit

http://www.hcvt.com/services/hiring-a-equipment-credits–ez-studies-.html  EZ Hiring & Equipment Credits

 

 For information regarding the 10% to 50% Federal and State Energy and Pollution Control Credits:

 http://www.blakechristian.com/green_tax_incentives.html

 Please do not hesitate to contact me with any questions or comments.

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Eco Credit Webinar – Friday, Jan. 22, 9:00 am PST – Energize Your Tax Planning With Energy/ Eco-Credits

Thursday, January 21st, 2010

http://www.blakechristian.com/energy_tax_credits.html

The above link and related articles will provide you with an overview of the wide-variety of valuable, but often overlooked, federal and state energy and pollution-control equipment credits.

These credits typically range from 10% to 50% of the “qualified” cost of the equipment (excluding installation) – but in some limited cases can be as high as 100% of the equipment cost.

Technology is changing at a rapid pace and so are the tax incentives.  New credits are being considered every week at the state and federal levels; therefore, it pays to do your research and fully understand these benefits before you make the capital investment.

These credits can dramatically reduce the cost of being an early adopter of these cleaner, yet more expensive, processes.

To participate in a comprehensive eco-credit webinar on Friday, January 22nd at 9:00 am  PST, or to access the archived webinar if you miss it, please click the following link:

http://www.cpelink.com/product/detail.php?p=1610

Green Tech Investments Yield Golden Tax Breaks

Sunday, October 11th, 2009

Going Green – Without Breaking the Bank

 

Despite the challenging economy and related capital market gyrations, business owners across the country are continuing to invest in a variety of eco-friendly technologies.  Businesses that choose to invest in green technologies do so for a variety of reasons including: 

-     Being socially responsible, 

-     Reducing long-term operating costs, 

-     Public relations/ employee relations benefits, 

-     Securing tax benefits 

-     Or most likely a combination of these factors. 

A sampling of the type of investments that business owners are making to reduce their energy costs, as well as their carbon footprint , include: 

-         Developing their own power sources, such as solar, cogeneration, geothermal, etc.,

-         Purchasing more energy efficient office and processing equipment,

-         Acquiring alternative powered vehicles,

-         Installing pollution control and energy control systems,

-         Adopting or improving their office and plant recycling programs,

-         Using more renewable raw materials and supplies,

While great strides are being made to reduce the carbon footprints of businesses and individuals, these new eco-friendly shoes can come at a very high price.   Many technologies are still being proven in the marketplace, and proven technologies such as solar, LNG powered vehicles, and LEEDS certified buildings require significant investment and long-term pay-back.

As positive as these eco investments are on the environment and the communities these businesses operates in, business owners will still naturally look to the lowest cost method for greening their business.  Unfortunately, sometimes this means deferring the planned upgrades until cash flow is sufficient to justify the significant up-front costs.

On the bright side, there are a large number of federal and state tax incentives, including eco-credits such as energy and pollution control tax incentives, hiring credit incentives research & development credits and accelerated depreciation benefits (through December 31, 2009) readily available to a large cross-section of industries.  The combination of state and federal credits, and bonus/ section 179 asset write-offs can dramatically reduce the after-tax cost of green infrastructure.

Energy Incentives (Just a Sampling)

-         Federal Solar Credit of 30% on Solar Panels and related equipment,

-         Federal Small Wind Energy Credit of 30% (Maximum Rating of 100 kilowatts),

-         Cogeneration energy production from alternative fuel sources – 30% federal credit

-         Alternative Fueling Stations, including electric recharging stations – federal credit equal to the lesser of: i) 50% of the eligible costs, or ii) $50,000 per station.  More pricey hydrogen station credit caps are increased to the lesser of: 30% or $200,000 per station.  See: www.carbondayautomotive.com  for more info on plug-in recharging stations.

-         Hybrid or Electric Vehicles – $2,500 to $15,000 per electric vehicle purchased or a 10% credit for conversion costs to convert a conventional or hybrid vehicle to a plug-in electric format.  The pay-back period can be relatively quick at $3 per gallon,

-         Federal bonus depreciation at 50% of asset costs and IRC Section 179 “expensing” of most tangible personal property for assets purchased by December 31, 2009 also offer significant up-front tax advantages,

-         Federal and state Research & Development costs for developing or refining new equipment or processes

For companies that design, manufacture, assemble or distribute green technology products, some of the largest tax incentives come in the form of Location Based Incentive Credits (LBICs) which are available to most companies operating in any of the over 8,000 federal, state and local tax incentive zones throughout the country.   Therefore, companies are very wise to carefully choose where they establish or expand their business in order to minimize their federal and state tax burdens.

A small sampling of the 40 state and numerous federal LBIC programs  include:

-         The California Enterprise Zone Program (www.caez.org) available in 42 Zones throughout the state, which offers:

  •  hiring credits up to $13,000 per year/ per qualified employee
  • equipment credits up to 10.75% on pollution control, energy control, technology, manufacturing and processing equipment used exclusively in a Zone,
  • lender tax exemption for loans to businesses operating exclusively in a Zone
  • Employee-Level credits up to $525
  • Favorable permitting, bidding, grants and loans

-         Florida Enterprise Zone Program available in numerous regions throughout the state provides benefits including: hiring credits, equipment tax breaks, sales tax benefits, and property tax reductions,

  -         Federal Empowerment Zone Program (up to $3,000 per qualified employee/ per year)

-         Federal Renewal Community Program (up to $1,500 per qualified employee/ per year)

-         Federal Rural Renewal County Program (up to $4,800 per qualified employee/ per year)

-         Federal Work Opportunity Tax Credit (WOTC) Program available to business operating in any location – from $2,400 to $4,800 per qualified employee and up to $8,500 for Welfare-to-Work employees.

Federal and state grants and more liberal loans are also available for these assets.

 Businesses that either purchase or sell energy and pollution control equipment and spend the time educating themselves on the very beneficial green/ eco credits, state enterprise zone programs, federal tax incentive programs, can enhance their cash flow and profits and will gain significant competitive advantages. 

Read additional green tech blog entries below or review the article library at: www.blakechristian.com.

For more information on identifying Location Based Incentive Credit Zones, please refer to: www.ntcgtax.com.

2009 Stimulus Plan Tax Provisions – Summary of the $280 Billion Tax Incentive Package

Sunday, February 15th, 2009

2/17 Update

_________________________________

NEWS ALERT

from The Wall Street Journal

Feb. 17, 2009

President Barack Obama signed into law the $787 billion stimulus package.

 

http://online.wsj.com/article/SB123487951033799545.html?mod=djemalertNEWS

February 14, 2009 Posting:

Congress has passed the Recovery and Reinvestment Act of 2009 and President Obama is expected to sign this massive spending (62% of the Plan) and tax (38%) bill on Tuesday, February 17th.

2008 and 2009 tax refunds can be maximized by evaluating these new provisions – many applicable to the 2008 tax year.

While the $789 billion package was ultimately shaved down by approximately $100 billion during the Conference Committee phase, it is still a very bloated plan with only a small percentage devoted to infrastructure projects.  Only 3 Republican Senators (and no House Republicans) voted for the bill.

Over the weekend, the vast majority of congressmen interviewed admitted they had not read the document, but cast their votes based on a generally understanding of the provisions.  It is doubtful many grasp the magnitude of the dollar amounts contained in the bill.    Republican Senator, Mitch McConnell provided the most illustrative quote of what large sums of money are flowing out of the beltway:  "If you spent a million dollars every day since Jesus was born, you still would not have spent a trillion dollars".   There are lots of zeros floating around in these programs and the long term impact on inflation and the economy is pretty scary.

On a brighter note, the extensive tax revisions (over 50 modification to the Internal Revenue Code)- primarily applicable for 2008 through 2010 tax years are full of favorable tax incentives for a wide variety of taxpayers and industries.

Valuable depreciation benefits, alternative energy incentives and tax loss carryback rules can save small and large businesses millions of dollars over the next few years.

Please read the following summaries for details regarding business and individual tax changes and new tax planning opportunities.

Download 2009 AICPA Corporate Tax Stimulus Article      BEC AICPA Corporate Tax Provisions

Download House-Senate-Recovery-Act-Final 2009     CCH Individual and Business Summary

Download CA Budget Status Feb. 16, 2009   WSJ California Budget Update

Tax Zone Locator Software Allows Identification of Valuable Federal and State Tax Credits

Saturday, January 3rd, 2009

There are over 8,500 distinct state, federal and local tax incentive zones throughout the U.S. which allow businesses to claim valuable tax breaks ranging from: hiring credits, equipment credits, "green"/ pollution control, income, property and sales tax exemptions, and/ or other financial incentives.

Most of these tax incentive programs allow taxpayers to claim these tax breaks in prior years via current year documentation and in some cases via amended returns for up to four years.

Due to the lack of information on eligible locations and employees, NTCG has developed the only national database of eligible business and employee addresses, which allows users to identify tax credit eligibility in seconds.  Through our "batch screen" application, users can screen thousands of addresses quickly and accurately and use the results for tax planning, marketing or economic development purposes.

National Tax Credit Group,  LLC in cooperation with CCH (a Wolters Kluwer Company) has developed one of the most powerful and accurate web-based software solution to allow businesses to identify all of their business locations and employees that will generate these tax incentives. The attached brochure details the power of our NTCG/ CCH software and includes screen shots of the software and output.

Download NTCG Tax Zone Locator Brochure

Hiring credits typically range from $500 to $15,000 per "qualified" employee per year under the state Enterprise Zone, and Federal programs.  Statistically over 20% of businesses have one or more business facilities in a tax incentive zone and every business is eligible to claim credits under the Work Opportunity Tax Credit (WOTC) – $2,400 to $4,800 of credit per employee, or the $8,500 Welfare to Work (WtW) program.

The Tax Zone Locater Software allows users to document these credits and provides details regarding tax forms and logistics for claiming refunds and future benefits.

Read more about state and federal tax credits:

Download Don't_leave_valuable_incentive_credits_on_the_table 

Download 2007_Nat'l_TZL_2_Sided_flyer

Download NTCG_Nov21_Press_Release