The Inflation Reduction Act (IRA) introduced significant incentives for both individuals and companies to make investments that improve the energy efficiency of new and existing buildings.
Larry Pon joins Michael to discuss the various credits that are available for taxpayers who have invested in solar panels, electric appliances, and even energy efficient doors and windows.
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Episode Highlights
- Changes to clean energy incentives made with the passage of the Inflation Reduction Act (IRA) in 2022.
- Overview of the Energy Efficient Home Improvement Credits program, including eligibility and limitations.
- Summary of the Residential Clean Energy Credit, which offers 30% tax credit for solar panel installations.
- Discussion of the Qualified Refueling Property Credit, which provides incentives for storage or dispensing of alternative fuel for a motor vehicle.
Episode Resources
- FAQs about energy efficient home improvements and residential clean energy property credits [IRS.gov]
- IRA Form 5695
- IRS Form 8911
- Larry’s Presentation on Clean Energy Credits
Today’s Guest: Larry Pon, CPA
About The Tax Efficient Investor Podcast
On the Tax Efficient Investor podcast, we show you how to protect, grow, and transfer your wealth by implementing tax-advantaged investment strategies. Host Michael Johnston demystifies tax strategies that are favored by the most successful and sophisticated investors, including 1031 exchanges, IRA & 401k plans, HSA accounts, trusts, real estate, and more.
