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Commercial Tax Credits Set to Expire

Friday, October 14, 2011
...by Warren Kirshenbaum


An interesting transactional focus for year-end which could create some much needed impetus in the renewable energy arena is the expiration of the 1603 Treasury Grant, and the solar depreciation acceleration for 2011, which expire on December 31, 2011. The possible expiration of these valuable incentives should spur, in particular, increased activity in solar installations in order to meet the spending parameters of the grant by the end of December 2011.

An experienced consultant can assist in the 1603 grant process and in tax incentive deals generally. Consultants are also able to piece together financing sources and partners in the solar development marketplace that can be strategically helpful to clients needing to take advantage of tax credit for solar installations.
 
Cherrytree is an innovative real estate and business consulting company that advises business and real estate owners, developers, property managers, and landlords.  

Our services include the representation of clients in the renewable energy area, particularly solar installations and tax credits as well as providing sophisticated value added services to green development projects, i.e. developments that utilize energy efficient development incentives.

For information, assistance or questions regarding the 1603 Tax Credit, Solar Energy Credits, Brownfields Tax Credits or other Commercial Real Estate transactions, contact the Cherrytree Group.

“Sophistication, Value and Follow-Through”

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Tax Deductions for Energy Efficient Buildings

Tuesday, October 04, 2011
...by Warren Kirshenbaum

If your business needs another reason to build green, here it is: energy-efficiency tax deductions. The 2008 Emergency Economic Stimulus Act extended the deduction for energy-efficient commercial buildings.

These deductions, up to $1.80 per square foot for certain properties, were established to offset the costs of constructing energy-efficient buildings and can result in increased cash flow for your firm. This additional cash can be a great benefit for any business looking to make the most of their resources.

These deductions apply to improvements that exceed the 2001 building energy code standards by at least 50%. The provision is related to reduced energy consumption in three areas:

  • The building envelope;
  • Heating, cooling, ventilation and hot water systems (HVAC); and
  • Interior lighting systems.
  • The deduction is calculated based on the total improved square footage of the building.

Until 2011, the deduction was required to be taken in the year the qualified property was placed into service or by amending tax returns (limited to the prior three years). However, it may not be too late to benefit from qualified energy-efficient property installed in previous years. As a result of recent IRS provisions, you can now take the tax deductions for qualified energy-efficient property as far back as 2006.

Owners and tenants of commercial properties who have built, retrofitted or installed leasehold improvements can benefit from these deductions. Architects, engineers and contractors who are the primary designers of government-owned energy-efficient buildings can also benefit. Government entities cannot benefit, but they can allocate deductions to the primary designer.

Energy-efficiency tax deductions provide an excellent opportunity to lower taxes right now. Speak with a qualified commercial tax credit or commercial real estate attorney to find out more about how you can benefit from these deductions.

Original article - SCBJ
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