In the market for a used electric vehicle? Check to see if the model of vehicle you want is eligible for a tax credit here: list of qualified vehicles Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) or fuel cell vehicle (FCV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit under Section 25E of the Inflation Reduction Act equal to 30% of the sale price up to a maximum credit of $4,000....

Key Points Summary The IRS has issued proposed guidance for applying and qualifying for the Low-Income Community bonus for small commercial Solar and Wind projects (under 5 megawatts). This guidance is not yet official, as there is a review/comment period until June 30, 2023. Under the proposed guidelines, qualified solar and wind projects located in Low-Income Communities may receive an additional 10% or 20% tax credit. However, the program is capped and competitive, so not all projects are likely to qualify....

On May 12, 2023, the IRS issued Notice 23-38 to outline the guidelines for projects that qualify for the Domestic Content Bonus Credit under Section 48 Investment Tax Credit or Section 45 Production Tax Credit in the Inflation Reduction Act. Below are key takeaways as you plan projects for your business. This article will speak mostly about Commercial Solar projects under the Section 48 Investment Tax Credit. What projects does this apply to?...

Summary The 179D Deduction is a tax incentive that every project manager, owner, and contractor involved in commercial projects needs to understand. Almost every commercial construction project underway in the United States today can potentially qualify for up to a $5.00 per square foot tax deduction, often without modifying plans from current design. Documentation requirements are high but can be easily managed by an energy consulting and accounting firm to maximize the deduction without a hassle....

Note: Much of this info is summarized from Energy.gov, IRS.gov, and WhiteHouse.gov. More details, sources, and information about additional tax credits can be found here. For many years, solar has had great tax incentives to support commercial solar projects. Now with the Inflation Reduction Act (IRA), passed in Aug. 2022, provides credits and depreciation deductions that combine to give Year 1 2023 tax incentives that cover 47% (or more) of system cost!...