Renewable Energy Tax Credit
United States tax laws offer tax payers the option to minimize their debts when they utilize the benefits of renewable energy sources. According to the Crude Oil Windfall Profits Tax Act of 1980, tax credit is available to individuals and businesses that purchase this type of equipment up to a certain amount. Anyone that is facing overwhelming tax burdens should investigate all tax credit options as a way to deal with their debt.
If you or someone you love is dealing with considerable tax debts, it may be helpful to contact a legal professional. The attorneys of the Tax Relief Law Center are prepared to help you work through your financial issues and claim any credit that you may be eligible for. For more information, please fill out the form at the top of the page and one of our qualified lawyers will contact you shortly.
How Renewable Energy Tax Credit Works
Solar, wind, and geothermal energy sources can be purchased by both individuals and businesses to fuel their properties. Anyone who has purchased this type of equipment may be eligible for tax credit for:
- 30% of equipment costs, not exceeding $2,000
- 20% of the equipment costs from $2,000-$10,000
- 25% of the cost of the equipment for businesses
Claiming tax credits and filing all required paperwork may be difficult, but with the help of a professional, you may be able to reduce your debts and move towards financial relief.
At the Tax Relief Law Center, we know how frightening it can be to deal with tax debts. Our experienced and compassionate tax lawyers are prepared to help you put your finances in order and tackle your burdens. To learn more about what we can do to help, fill out the form at the top of the page, and we will contact you shortly.