energy - Linkenheimer LLP CPAs & Advisors

What Businesses Can Expect from a Green Lease

With events related to climate change continuing to rock the news cycle, many business owners are looking for ways to lessen their companies’ negative environmental impact. One move you may want to consider, quite literally, is relocating to a commercial property with a “green lease.”

Increasing demand

Green leases are sometimes also known as “aligned,” “energy-efficient” or “high-performance” leases. Whatever the label, they generally use financial incentives to promote sustainable property management and energy usage. The leases typically include provisions related to cost recovery, submeters, data sharing and minimum efficiency standards. Done right, they can cut energy costs, conserve critical resources and improve building operations — offering benefits to property owners and tenants alike.

Businesses that sign on to green leases may gain several competitive advantages. Many customers and investors now prioritize visible commitments to environmentally friendly business practices. More and more job candidates do, too. Sustainability is particularly important to Millennials and members of Generation Z, who together now make up the largest subset of the U.S. workforce.

In addition, the pandemic boosted interest in so-called “healthy buildings,” which are often available through green leases. Healthy buildings feature more efficient lighting as well as pathogen-fighting heating, ventilation and air conditioning (HVAC) systems. […]

By Linkenheimer LLP|2023-09-27T15:48:39+00:00September 27th, 2023|business, energy|0 Comments

Pocket a Tax Break for Making Energy-Efficient Home Improvements

An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making your home more energy efficient — and there’s a cool tax break that may apply. Thanks to the Inflation Reduction Act of 2022, you may be able to benefit from an enhanced residential energy tax credit to help defray the cost.

Eligibility rules

If you make eligible energy-efficient improvements to your home on or after January 1, 2023, you may qualify for a tax credit up to $3,200. You can claim the credit for improvements made through 2032.

The credit equals 30% of certain qualified expenses for energy improvements to a home located in the United States, including:

Qualified energy-efficient improvements installed during the year,
Residential “energy property” expenses, and
Home energy audits.

There are limits on the allowable annual credit and on the amount of credit for certain types of expenses.

The maximum credit you can claim each year is:

$1,200 for energy property costs and certain energy-efficient home improvements, with limits on doors ($250 per door and $500 total), windows ($600 total) and home energy audits ($150), as […]

By Linkenheimer LLP|2023-08-16T19:19:40+00:00August 16th, 2023|energy, tax credit|0 Comments

Plug in Tax Savings for Electric Vehicles

While the number of plug-in electric vehicles (EVs) is still small compared with other cars on the road, it’s growing — especially in certain parts of the country. If you’re interested in purchasing an electric or hybrid vehicle, you may be eligible for a federal income tax credit of up to $7,500. (Depending on where you live, there may also be state tax breaks and other incentives.)

However, the federal tax credit is subject to a complex phaseout rule that may reduce or eliminate the tax break based on how many sales are made by a given manufacturer. The vehicles of two manufacturers have already begun to be phased out, which means they now qualify for only a partial tax credit.

Tax credit basics

You can claim the federal tax credit for buying a qualifying new (not used) plug-in EV. The credit can be worth up to $7,500. There are no income restrictions, so even wealthy people can qualify.

By Linkenheimer LLP|2020-09-03T20:04:03+00:00May 2nd, 2019|credit, energy, New Tax Laws, tax credit|0 Comments

Getting Wise to the Rise of “Smart” Buildings

Nowadays, data drives everything — including the very buildings in which companies operate. If your business is considering upgrading its current facility, or moving to or constructing a new one, it’s important to be aware of “smart” buildings.

A smart building is one equipped with a variety of sensors that gather and track information about the structure’s energy usage and performance. With this data, the owners can better regulate the building’s energy consumption and, ultimately, save money.

Has this been the case in real life? The results of a 2018 Forbes Insights/Intel survey seem to indicate so. Of the 211 business leaders from around the world who responded, 66% answered affirmatively when asked whether smart building management technologies have produced a return on investment.

What’s out there

The name of the game with smart buildings is integration. Traditional building management and control systems don’t easily converge with today’s technology-driven and Internet-connected infrastructure. (This infrastructure is often […]

By Linkenheimer LLP|2020-09-03T20:04:20+00:00January 18th, 2019|business, energy|0 Comments

Here is a list of 10 deductions individual taxpayers may overlook

Now that all the 2011 tax deadlines have passed, it is a perfect time to start planning for the next tax season.

Here is a list of 10 deductions individual taxpayers may overlook provided by Bankrate.com:

Additional charitable gifts – everyone knows the donation itself is a deduction, but did you know certain expenses are deductible as well? For example, you could be reimbursed charitable miles at $0.14 per mile, the cost of any supplies bought for the group, and if a uniform is required, you could deduct the cost of that uniform and its cleaning bills.
Moving expenses – there are many moving expenses you can deduct when you relocate. For example, even your first relocation after college to start a new job is deductible.
Job hunting costs – costs related to searching for a new job in your current profession can be […]

By Linkenheimer LLP|2020-09-03T20:05:57+00:00November 2nd, 2012|CPA, energy, Linkenheimer, moving expenses, retirement, Santa Rosa, savings, tax, tax deductions, taxpayers|0 Comments