Home Energy Audits May Qualify for an Energy Efficient Home Improvement Credit

Washington – The IRS issued Notice 2023-59 today regarding the requirements for home energy audits for taxpayers that want to claim the energy efficient home improvement credit. The Inflation Reduction Act of 2022 created several clean energy credits. Each of these credits has requirements for the type of clean energy property or service purchased and how they…

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IRS reminder: Make sure to understand recent changes when buying a clean vehicle

WASHINGTON — The Internal Revenue Service reminded consumers considering an automobile purchase to be sure to understand several recent changes to the new Clean Vehicle Credit for qualified plug-in electric drive vehicles, including qualified manufacturers and tax rules. The Inflation Reduction Act of 2022 (IRA) made several changes to the new Clean Vehicle Credit for…

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Tax basics for setting up a business

Starting a new business can seem overwhelming for new entrepreneurs or even seasoned professionals. The IRS has resources to help new business owners understand the tax responsibilities of running a business. Here are a few things any entrepreneur needs to do when starting their business. Choose a business structure The form of business determines which income tax return a…

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Office closing

My office will close on October 11 and will reopen on January 2. If you need taxes done, please contact me as soon as possible. The IRS closes for electronic filing on November 18 and will reopen January 22. If you have any concerns during my closure, I will be available to answer questions by…

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IRS releases home energy tax credits

Energy Efficient Home Improvement Credit These expenses may qualify if they meet requirements detailed on energy.gov: Exterior doors, windows, skylights and insulation materials Central air conditioners, water heaters, furnaces, boilers and heat pumps Biomass stoves and boilers Home energy audits The amount of the credit you can take is a percentage of the total improvement expenses…

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