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All Press Releases for October 3, 2008 Subscribe to this News Feed    
 

President Signs Green Building Tax Deduction and R&D Tax Credit

FORT WORTH, Texas (Business Wire EON/PRWEB ) October 3, 2008 -- SourceCorp announces the extension of the Energy Efficient Green Building Tax Deduction and the two-year extension of the R&D Tax Credit. Today, Congress approved an unprecedented $700 billion government bailout and sent it to President Bush who quickly signed it.

Energy Efficient Commercial Building Tax Deduction

News Image Extended through December 31, 2013. Section 179D(a) is a deduction for commercial building owners whose buildings meet certain energy standards. The deduction is as much as $1.80 per square foot for buildings that achieve a 50 percent energy savings target. Before claiming the deduction, the owner must obtain written certification from a professional engineer not related to the company using approved software that the required energy savings will be achieved.

Research and Development Tax Credit

The R&D tax credit was extended for two years through December 31, 2009. If you are involved in developing new products/processes, improving existing products, creating more reliable products, developing prototypes, design tools/jigs/molds/dies, apply for patents, testing new concepts, investment in manufacturing process activity, developing new technology or employ outside consultants and/or contractors to do any of these activities, you may qualify for the R&D Tax Credit.

About SourceCorp Professional Services

Celebrating our 25th year in business, SourceCorp Professional Services is the leading provider of R&D Tax Credit Studies, Energy Efficient Commercial Building Tax Deductions, Cost Segregation Studies, and LIFO Accounting in the U.S. SourceCorp serves many of the nations most prominent CPA firms, Associations, and Fortune 1000 companies. For more information or for a FREE analysis to see what your benefit would be, please visit: www.SourceCorpTax.com

See the original story at: http://eon.businesswire.com/releases/tax_credit/building_tax/prweb1424924.htm

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CONTACT INFORMATION

SourceCorp
Doug Morrell, 817-732-5494 x151
marketing@SourceCorpTax.com

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