Good article on 'Daylight Harvesting' Tax Incentives

[kcjenkins]

http://tinyurl.com/6ghy4e

This one should be read by all tax professionals, IMHO. It's more understandable than most such discussions, and focused on the tax implimentation. Check it out.

[jainen]

>>more understandable than most<<

I can't understand it. The article is about "The ability to maximize the utilization of more daylight." Well, that might be fine for someone else, but personally I'd rather maximize the utilization of more moonshine!

[PapaJoe]

I'd rather maximize the utilization of more moonshine!

I'll vote for that!

[JohnH]

The article made a big deal out of passive solar sources. Now if someone can just invent a skylight that won't start leaking after 2-3 years, they may be onto something.

[BulldogTom]

Please excuse my ignorance on this credit. Isn't this the one for home builders or construction companies only? It does not apply to the owner of the building, does it?

I started to read the article and got busy and had to leave it.

Any quick overview?

Tom

Lodi, CA

[kcjenkins]

Tom, the The Energy Policy Act of 2005 (EPAct)1 added Code Sec. 179D, which provides for up to a $1.80 per

square immediate tax deduction for building investments that achieve specifi ed energy cost reductions above ASHRAE 20012 building energy code standards. That is for the owner of the business property, so that could be any client who is building, or planning to build, a new property.

The second area that applys to business owners, not builders, here is this part:

Those facilities that already have energy efficient lighting at the EPAct qualifying level can obtain an immediate

tax deduction of up to 60 cents per square foot using the free riding path, provided they meet all of the normal

EPAct lighting project requirements. With free riding, the energy performance accomplishments of the existing lighting platform are taken into account and the EPAct permits a tax deduction provided that there is a new lighting investment.

Many companies that already have energy efficient lighting are using free riding to obtain tax deductions for investments in further energy reducing lighting, lighting controls, sensors and daylight harvesting.