Friday, July 24, 2009

Energy Tax Credits: trying to make sense of it all

These days it seems like everyone is trying to do some small things to save money and/or help the environment. Recent tax credits offered from the federal government and State of Michigan hope to encourage this behavior. But, with new and changing credits come increased layers of confusion. If you are as confused as the rest of us on what credits are available to you as part of this new initiative, there is a bit of good news. The Michigan Alternative & Renewable Energy Center at Grand Valley State University has recently compiled some useful guides that should help to take the pain out of these tax credits.

They have both quick reference guides for those of us that need to know what types of credits are available to individuals and businesses, and more detailed information for those of us that like to know all the details (See the link below).

Another source that may be helpful for individuals would be form 5695 from the IRS (link below) or this IRS release regarding business energy tax credits.

Michigan Alternative & Renewable Energy Center release

IRS form 5695

IRS release regarding energy tax credits,,id=209564,00.html

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