B and P Consultants Services, Inc

01/14/2024

01/14/2024

Tax time is here! Come visit us to help you file your taxes and get the most legally possible refund at a right price 💪 ! We offer cash advances up to $7000!

Llego el tiempo de los taxes! Venga y visitenos para ayudarles preparando sus taxes y conseguirle el maximo reembolso legal a un precio justo 💪! Ofrecemos adelantos de hasta $7000!

3501 W Vine St Ste 316, Kissimmee, FL 34741
407-846-1040

02/18/2023

What to know about your solar panels tax credit!!!

The Residential Clean Energy Credit for solar energy upgrades to your home has been extended through 2034 and expanded in value.

• The federal solar tax credit, officially called the Residential Clean Energy Credit, has been extended through 2034 and expanded starting in 2023 after passage of the Inflation Reduction Act.

• The credit is worth 30% of the installed system costs through 2032, 26% in 2033, 22% in 2034 and expires after.

What is the Residential Clean Energy Credit?
In an effort to encourage Americans to use solar power, the US government offers tax credits for solar systems. The Inflation Reduction Act renamed and extended the existing solar tax credit credit through 2034 for solar system installations on residential property. It also increased the credit’s value. Let's take a closer look at some of the benefits of the solar tax credit and how you can claim it.

How does the federal solar tax credit work?
When you purchase solar equipment for your home and have tax liability, you generally can claim a solar tax credit to lower your tax bill. The Residential Clean Energy Credit is non-refundable meaning that it can offset your income tax liability dollar-for-dollar, but any excess credit won’t be refunded. If the credit exceeds your tax liability for the year, you can “roll over” the unused portion to future years so long as the credit remains in effect.

There are no income limits on the solar tax credit, so all individual taxpayers are eligible to claim the credit on qualifying solar energy equipment investments made to their homes within the United States.

If you purchase power generated by solar equipment through a lease agreement or power purchase agreement, you aren’t the system owner and thus can’t claim the credit on your taxes.

02/18/2023

The Residential Clean Energy Credit for solar energy upgrades to your home has been extended through 2034 and expanded in value.

02/18/2023

The average refund amount was $1,997, down 14% from $2,323 during the same period last year.