If you’re working to make your business more energy efficient, you could be opening up new opportunities to help your bottom line. There are some often-overlooked tax savings and credits at both state and federal levels intended to help businesses that keep their energy use and budget under control.
And furthermore, there are rebates, loan programs and more opportunities that can help you get more energy efficient and secure your business’s financial future.
For instance, right now, you can get a big discount on a new electric car. Constellation’s EZ-EV program grants new and existing Constellation electric supply customers a $10,000 discount when they buy a new 2016 or 2017 Nissan LEAF.
This deal — like many energy savings rebates — doesn’t last forever. The discount on the Nissan LEAF for Constellation customers expires on June 30, 2017.
These opportunities often go overlooked by businesses. But there’s a simple way you can gain an understanding of how to save money and control your energy budget. You’ll find tons of information and energy efficient tips in a new ebook from Small Business Trends and Constellation.
The ebook, titled “Small Business Owner’s Essential Guide to Energy Tax Savings” features tips on how to control your energy budget, state and federal credits that may be available for your business, tips on finding rebates and loan programs and creative ideas for energy efficient business practices.
Barbara Weltman, author of J.K. Lasser’s Small Business Taxes, put together the 25-page ebook, which is packed full of essential tips for businesses looking to become more energy efficient.
Energy Tax Savings Tips for Small Businesses
Creating energy efficient practices for your business can seem like a complicated and overwhelming task. But with the tips included in this energy tax savings ebook, you can make a bit more sense of all the options available and choose the ones that make the most sense for your business.
You can download the ebook for free to access all 25 pages of tips. But here’s a quick preview of some of the helpful content included.
Get a Local Utility Assessment
Before you make changes to your energy practices, it can help to have a clear starting point. Many local utility providers offer free or low-cost energy assessment so you can see where the bulk of your energy use comes from. Then you can be better equipped to make informed changes going forward.
Get Grants for Energy Improvements
If you want to make an investment in your company’s energy program, you don’t have to go it alone. Grants like the Rural Energy for America Program offer money saving opportunities to businesses that fit with their specific requirements. There are several of these opportunities included in the ebook.
Buy Energy Efficient Equipment
When it’s time for your business to invest in new equipment, there are some specific things you can look for to ensure that your purchases are going to fit with your energy efficiency goals. Energy Star is a government program that gives you an easy way to find appliances and other equipment that meets certain energy efficiency standards.
Get Tax Credits for Alternative Energy Improvements
If your business has invested in solar energy or other renewable energy sources, you may actually qualify for some tax credits if you need to make improvements in those areas. Currently, there’s a 30 percent tax credit for solar energy investments through 2019. The rate drops a bit after that. But it’s important to understand the credits you may qualify for when using alternative energy sources, since the upfront cost and maintenance can be quite costly.
Don’t Overlook Home Improvements
These days, plenty of small business owners simply work from a home office instead of renting or buying a dedicated space. And there are also tax credits available for home improvements that can lead to improved energy efficiency, like the installation of solar panels. So don’t forget about those opportunities for home offices when considering your energy budget.
Those are just a few of the tips included in the 25-page ebook on energy tax savings. You can download the full ebook for free here.
Tax is one of the things that is hard to grasp for small business owners like me. This is good. If I can actually save money, then that will help me a lot.
I am totally new in this field, your article helps me to understand me about it.
I’m battling with tax matters of my firms these days and I hope this e-book would help me to save some $$$. Thanks Annie for sharing this worthy post.