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
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 nation’s
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
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