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Cheryl
Registered Users
Posts:2
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| 03/20/2007 6:05 PM |
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I'm am thinking about renovating a 1,725-sq-ft home (built in 1985), and want to turn it into a flower shop. I would love to incorporate some green principals- definitely going to have double pane windows replacing the old ones, and will insulate the attic. My question is, has anyone found any extra tax credits for businesses that renovate with energy-efficiency materials?
thanks, cheryl |
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PanelCrafters
Registered Users
Posts:1329
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| 03/20/2007 7:39 PM |
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Posted By Cheryl on 03/20/2007 6:05 PM
I'm am thinking about renovating a 1,725-sq-ft home (built in 1985), and want to turn it into a flower shop. I would love to incorporate some green principals- definitely going to have double pane windows replacing the old ones, and will insulate the attic. My question is, has anyone found any extra tax credits for businesses that renovate with energy-efficiency materials?
Here ya go:
Business Tax Credits
Businesses are eligible for tax credits for buying hybrid vehicles, for building energy- efficient buildings, and for improving the energy efficiency of commercial buildings (as outlined in the Energy Policy Act of 2005).
Check the guidelines, but generally you've got till the end of '07 to make the improvements. |
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....jc
If you're not building with OSB SIPS(or ICF's), why are you building? |
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Cheryl
Registered Users
Posts:2
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| 03/21/2007 10:23 AM |
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Thank you for the advice; I thought the business tax credits were only for new construction, but looking it up last night, I found a plethora of information on this issue. Most exciting was the loan guarantees, which states: Section 1701 of the Act authorizes loan guarantees for up to 80 percent of the project cost of an eligible project. Eligible projects include projects that both reduce greenhouse gas emissions and employ significantly improved technologies. Additionally, projects must fall into one of 10 broad categories, one of which is renewable energy systems. -Now I'm think about adding a few solar panels to my project. I feel better informed and will bring these issues up at a meeting with my loan officer next week.
Cheryl |
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