National Association of Manufacturers - NAM’s Post

Save on home energy audits with the Inflation Reduction Act! Get a 30% tax credit, up to $150, for energy audits. Improve efficiency, cut costs, and enjoy tax breaks. #TaxCredit https://bit.ly/45aZVjm

 Treasury, IRS shares Inflation Reduction Act clean energy statistics The Department of Treasury and the IRS released data regarding the clean energy tax credits under the Inflation Reduction Act for the 2023 tax year. Taxpayers can now claim more tax credits for residential and energy efficient homes. More than $6 billion in tax credits have been claimed by taxpayers for home energy investments and more than $2 billion will be used for energy-efficient home improvements thanks to the Inflation Reduction Act.

ICYMI: Today is National Tax Day! Just a sunny reminder to not be late and file your taxes today! Brighter days ahead with solar savings. #NationalTaxDay

New data released by the U.S. Department of the Treasury sheds light on the take up of the #taxcredits within the Inflation Reduction Act, and confirms that even when nearly half of the households that claimed at least one of the tax credits had incomes of less than $100,000, the credits still disproportionately benefited wealthier #taxpayers since about 75 percent of all tax filers had incomes under $100,000 in 2023. Read The New York Times article. 👇 https://lnkd.in/dC_P4Nxp

"The Department of the Treasury & the IRS issued statistics on the Inflation Reduction Act (IRA) #CleanEnergy #TaxCredits for tax year 2023. The IRA, extended & expanded tax credits that allow #taxpayers to claim residential & #EnergyEfficient #HomeEnergyCredits. Taxpayers have claimed more than $6 billion in credits for residential clean energy investments—which include #SolarElectricity generation, solar water heating & battery storage—and more than $2 billion for energy efficient #HomeImprovements — which include heat pumps, efficient air conditioners, insulation, windows & doors — on 2023 tax returns filed & processed through May 23, 2024." For more information: https://lnkd.in/eRSv8MfG  - If you need any assistance with this or any other business financial or personal tax issue, please give us a call. (608) 787-5904 ~ https://lnkd.in/etmcwrz Our hours are: • Monday - Thursday: 8am - 5pm • Closed Fridays until Aug. 30th.

2024 Budget Speech: Tax Implications for You and Your Business There were no increases in corporate tax, personal income tax, VAT, fuel levy, and the road accident fund levy. A new Global Minimum Corporate Tax will be implemented for qualifying multinationals from 01 January 2024. The income tax brackets for individuals (see image) stayed EXACTLY the same as the 2024 financial year with no inflation adjustments. Clients must please be aware that salary increases (inflation or other) might have an effect in which tax bracket you will be taxed on for the new financial year (bracket creep). Medical tax credits remain unchanged putting additional pressure on families paying more for medical aid. The discontinuation of solar tax incentives for households will slow down the adoption of renewable energy and like always sin taxes were raised at or above inflation rates. #BudgetSpeech2024 #BusinessTax #BusinessAdvisory #Finovo

Keep up with the latest IRS updates on energy tax credits and incentives, covering transferability transactions and elective pay registrations for 2024. Discover election year insights from the Inflation Reduction Act’s impact. https://okt.to/25UmBI #IRSUpdates #EnergyTaxCredits #IRA #CleanEnergy

Keep up with the latest IRS updates on energy tax credits and incentives, covering transferability transactions and elective pay registrations for 2024. Discover election year insights from the Inflation Reduction Act’s impact. https://okt.to/OyRXEz #IRSUpdates #EnergyTaxCredits #IRA #CleanEnergy

Many high-income earners believe there is nothing they can do to lower their tax burden – whether because they receive W-2 income, or they’ve been told they are already maxing out their deductions. Ratio CPA firm specializes in tax planning and we offer advanced tax reduction solutions for all high income earners. The Inflation Reduction Act has increased the benefits of Investment Tax Credits (ITC) from commercial solar projects. Your tax credit can now range between 30%-70% and be applied up to 3 years retroactively – making it one of the only ways to recover 2021, 2022 and 2023 taxes, in addition to 2024 savings. Interested in finding out more about ITC? Schedule a no-strings consultation and find out more. https://lnkd.in/gcBuNKYq