Federal Tax Credit for SolarIt may be continuing to snow outside, but that doesn’t mean that April 15 isn’t sneaking up! To get you ahead of the game, we’ve prepared this short guide to getting the federal tax credits.

Disclaimer: We recommend using an accountant; all resources we give here are purely for informational purposes, and not official tax advice.

Residential 26% Federal Tax Credit

As we mentioned last month, the 26% federal tax credit covers labor and equipment costs for your solar energy system.

Start by retrieving IRS form 5695, entitled “Residential Energy Credits.” On the second page of this form are two lines where you can total the costs of your PV and/or solar hot water systems. Simply use the full contract price paid to ReVision Energy. If you’re missing that information, contact us and we’ll get it to you tout de suite!

You have our assurance that the system we installed for you meets the federal guidelines, but if you need some resources to send to your accountant, try these:

Businesses: Make Sure to Claim Bonus Depreciation!

MACRS Bonus Depreciation Solar Power

Did your business get solar installed last year? Then don’t forget to claim your bonus depreciation for the 2010 tax year!

This additional benefit can result in thousands of extra dollars in your pocket today. This one really requires accounting resources to figure out, but may we direct you to:

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