Presented by: Terra Van Zant, CPA Tax Incentives for Solar Property Improvements 2880 GATEWAY OAKS DRIVE, STE. 100 | SACRAMENTO, CA 95833 | (916)646-6464.

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Presentation transcript:

Presented by: Terra Van Zant, CPA Tax Incentives for Solar Property Improvements 2880 GATEWAY OAKS DRIVE, STE. 100 | SACRAMENTO, CA | (916) | GILBERTCPA.COM

Residential Energy Efficient Property Credit (REEP credit) 30% of the cost of eligible solar electric property Solar water heaters Fuel cell property Small wind energy property Geothermal heat property

Eligible Costs Solar electric property costs are eligible for the credit if they meet the following criteria: For a dwelling unit within the U.S. For a property that uses solar energy to generate electricity For a property that is the residence of the taxpayer

Eligible Costs Costs for equipment Labor costs from the onsite preparation, assembly and/ or original installation First and second homes qualify. No rentals

Solar Tax Credit Against tax liability less any other credits Not refundable Credit can be carried over to next year Credit extended through 12/31/2016

Business Credits/ Deductions Business Energy Credit Comparable to REEP credit 30% of costs for solar electric property on business property through 2016

Accelerated Depreciation Solar property depreciation under 5 years Qualifies for bonus of 50% of improvement until 12/31/2013 Business Credits/ Deductions

12/19/11 Terra Van Zant, CPA Gilbert Associates, Inc