« previous next »
Pages: [1]   Go Down

Author Topic: tax credit for small wind  (Read 274 times)

0 Members and 1 Guest are viewing this topic.

dlenox

  • Sr. Member
  • ****
  • Posts: 352
    • PowerDashboard monitoring/logging software for RE systems
tax credit for small wind
« on: March 13, 2009, 05:59:38 PM »
All,


Recently a friend of mine told me about the new federal tax legislation signed into law - the American Recovery and Re-investment Act of 2009.


This change allows consumers and small businesses to deduct from their tax liability 30% off the installed cost of a wind turbine.


I saved the federal tax form #5695 on my website if you need it.


Dan Lenox

« Last Edit: March 13, 2009, 05:59:38 PM by (unknown) »
Logged

g reif

  • Newbie
  • *
  • Posts: 43
Re: tax credit for small wind
« Reply #1 on: March 13, 2009, 02:15:38 PM »
what are the max amounts that they give back with this bill, I have forgotten. The old one had limits not sure on this one.
« Last Edit: March 13, 2009, 02:15:38 PM by g reif »
Logged

electronbaby

  • Sr. Member
  • ****
  • Posts: 407
  • Country: us
    • Windsine.org
Re: tax credit for small wind
« Reply #2 on: March 13, 2009, 03:17:15 PM »
The old one had a cap of $4000. The current bill removed the cap and now you are allowed to take a full 30%. This goes for Solar PV, Wind, and Solar DHW as well. We always advise our customers to speak with their accountants as well, however, many accountants are unfamiliar with these new rules also.
« Last Edit: March 13, 2009, 03:17:15 PM by electronbaby »
Logged
Have Fun!!!  RoyR KB2UHF

halfcrazy

  • Sr. Member
  • ****
  • Posts: 387
Re: tax credit for small wind
« Reply #3 on: March 14, 2009, 05:10:53 AM »
the tax form you linked is capped at 2000 for solar and 1000 a kw for wind? i was under the impression the new bill lifted the caps?
« Last Edit: March 14, 2009, 05:10:53 AM by halfcrazy »
Logged

dlenox

  • Sr. Member
  • ****
  • Posts: 352
    • PowerDashboard monitoring/logging software for RE systems
Re: tax credit for small wind
« Reply #4 on: March 15, 2009, 03:13:38 PM »
caps are lifted if put into service in 2009, 2008 still has cap.


dan

« Last Edit: March 15, 2009, 03:13:38 PM by dlenox »
Logged

domeguy

  • Newbie
  • *
  • Posts: 42
Re: tax credit for small wind
« Reply #5 on: March 31, 2009, 03:53:17 PM »
Related question:

Does anybody know if the costs for a battery or generator can be included?

« Last Edit: March 31, 2009, 03:53:17 PM by domeguy »
Logged
Pages: [1]   Go Up
« previous next »