Alternative Energy Tax Credits:
How to save 15% of your Federal tax bill
There really is a perfectly legal way for you to pay 15% less than your Federal tax liability! Intrigued?
When municipalities, quasi-governmental entities or not for profits install alternative energy systems (solar, geothermal, wind) they don’t need the tax credits that the installation generates. These tax credits are available for you to purchase. In most instances, you pay 85% of the value of the credit. This cash helps to finance the project and saves you dough!
A 2019 $100,000 cash purchase of solar credits yielded $115,000 of Federal tax credits. This taxpayer was able to utilize $80,000 of the credits against the 2019 Federal tax liability. The remaining $35,000 of credits was carried back to 2017 and the tax refund was received about 120 days later.