Saving money and the planet

Tag : energy saving pump

Before buying a car or making renovations to your home, check withan accountant. You might find it's worth going green with your nextbig purchase.
"We try to be aware of tax credits out there with the federaland state government," said Cathy Goldsticker with accountingfirm Brown Smith Wallace . "There are a lot available that provide tax incentives forenergy savings."
Homeowners who choose to insulate windows, roofs and doors areeligible for up to 10 percent of the total cost of the project, upto $2,000. The second type of credit available for homeowners dealsin property costs for equipment such as hot water heaters andfurnaces. If you opt for an electric heat pump, for example, youcould receive up to $500 in tax credits for the property costs.
For residential contractors, a $2,000 tax credit is available toencourage builders to design energy-efficient homes, but the homemust meet very technical energy-saving requirements.
For commercial properties, builders who build a structure inaccordance with ASHRAE ( American Society of Heating, Refrigerating and Air-ConditioningEngineers ) standards can receive $1.80 per square foot in tax deductions.
Crippling gas hikes are not the only economic incentive driving upsales of hybrid cars. According to Goldsticker, in choosing to buya hybrid vehicle, up to $3,100 in tax credits are available.
As for the firm, Goldsticker said Brown Smith Wallace is trying tobe a "paperless" office, and it already is 80 to 90percent of the way toward reaching that goal. The effort includesbare minimal files, online billing, electronic tax filingand electronically backed financial statements.