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Lights go on for business energy credits

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in Small Business Tax,Small Business Tax Deduction Strategies

Q.  In a recent article, you talked about energy credits in your home. Can’t you get credits for costs at a plant? C.M.D., Rapid City, Iowa

A.  Yes. A business may also claim a credit for making energy-saving improvements, although the rules are more complex than the rules for residential energy credits.

Generally, the business energy credit is equal to 10% of the cost, but it increases to 30% for certain property placed in service before 2017. To qualify for the credit, the energy property must be depreciable. Other special rules and limits may apply.

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