Going Green: The Perfect Choice to Lower your Business Tax
Even though it’s getting more difficult to find business tax credits for going green, your business can still benefit from energy incentives. You may have to search for tax incentives, but it’s worth the time. Consumers are looking for businesses that are eco-conscious and responsible.
Where to Find Green Initiatives
One of the best databases for finding energy business tax credits is DSIRE, which used to be funded by the federal government. Currently, the database is still free, but funding was cut. The organization is hoping to find private donors to keep the information up-to-date and free. Businesses can search by state for federal, state and local energy incentives that will make renovating your organization much more efficient and hopefully save you some money.
Business tax credits for hybrid cars have ended, but all-electric vehicles still have incentives. The Dept. of Energy’s Fuel Economy website provides information on which cars are eligible. If you are thinking of investing in fleet vehicles, it pays to look at what incentives are available.
Businesses can still receive tax credits for making donations. Electronics that are no longer viable for work-related activities still have quite a bit of value. Donate technology to schools or other non-profits for business tax credits. Instead of filling landfills, your used electronics will benefit others who have an even tighter budget.
Make sure to check out the Energy Star website for products that are eligible for incentives and tax breaks. Even if you don’t get a tax credit, you can still lower your utility bills and carbon footprint.
Look for tax credits in other places, such as in creating jobs. Hire veterans for eco-management in your business and get a credit for creating jobs for veterans. Tax credits of up to $9,600 are available from the Vow to Hire Heroes Act.
Ask the financial specialists with Summit Funding Solutions for information about funding your energy incentives.