One opportunity that has saved significant dollars for
PDR
clients is our cost segregation program. If you have purchased a commercial property in the last few years or are planning to soon, please call us and we’ll calculate the savings for you.
You could be sitting on a lot of unclaimed cash from the Emergency Economic Stabilization Act of 2008, which was signed into law on
October 3, 2008
. It extends and strengthens the tax breaks for Research and Development Tax Credits. It also creates credits for Energy-Related expenditures and activities. Here are some highlights:
R&D Tax Credits
- The bill extends the R&D credit through 2009.
The bill strengthens the credit by increasing the Alternative Simplified Credit rate from 12% to 14% for 2009.
Business Energy Tax Credit
The new law extends the business energy tax credit for qualifying solar, fuel cell, micro-turbine, and geothermal energy equipment for eight more years, to cover property placed in service through 2016.
- The credit for fuel cell equipment placed in service in tax years ending after
October 3, 2008
is increased.
- Qualified wind energy equipment, geothermal heat pump systems, and combined heat and power system equipment placed in service in tax years ending after
October 3, 2008
are made eligible for the credit.
- The credit is allowed to offset
AMT
liabilities for tax years beginning after
October 3, 2008
.
