It is human nature to want to hold on to tried and proven methods of doing things rather than lurch on to new methodologies that are not well understood or established. This is why there is a tendency to resist change regardless of how positive it is. That has been the sad story pertaining to efforts to transform the way people build their homes and offices. It is a known fact that the environment is having it hard from the prevailing building methods. 45L Tax Credit Benefits have thus been put in place to ensure that people are motivated to do the right thing and save the environment for posterity.
Despite the resistance in some quarters, energy efficient building is as reliable as they come and destined to stay. Millions of homes and office buildings are conform to the requirements for energy efficiency as people come to grips with this necessary change. No compromises are made in the integrity of your structure and you don’t incur any extra costs. If anything you stand to benefit in a number of ways and the situation presents a win-win scenario between you and the environment.
There is a tax deductions which is extended to engineers and architects involved in the construction of energy efficient housing units by the federal Government. This is known as the 45L Tax Credit and it is considered for every qualifying unit in apartment buildings and homes. This can be occupied by the owner, be a second or vacation home or even be leased out. The deduction amounts to $2,000 for every qualifying unit and this effectively means that you get to pay fewer taxes saving you lots of money in your construction project.
The 45L tax credit has been around since 2005 and every year the facility has been extended for another year. The fact that it is still available is testament to its great value and the change it is making in the drive to reduce the negative human footprint on the environment.
In order to qualify for this credit here is need for a certified engineer to inspect your property to verify if it meets that prescribed standards for energy efficiency. There are also a number of professional tax companies that can help you in ensuring that your building processes qualify and even with the filing process.