Tax

New Carrier White Paper Helps Calculate the Tax Savings of a Geothermal Heat Pump System

Carrier White Paper Tax Savings of a Geothermal Heat Pump System

SYRACUSE, N.Y., Nov. 15, 2012 /PRNewswire/ -- Building owners, designers and contractors considering a geothermal heat pump system can now easily determine the associated federal tax credits, using Carrier's new white paper, Geothermal Heat Pump Systems and Federal Tax Incentives. The free paper, available on Carrier.com, provides an overview of the federal tax credit along with a payback analysis for new construction, retrofit or replacement installations, which can deliver tax benefits up to 50 percent of the original project cost in just five years.

Add Safety to Your Bath With Pre-Tax Health Flexible-Spending Account Dollars

Moen Add Safety to Your Bath

North Olmsted, Ohio... In today's economy, we're all looking for ways to save, and a Health Flexible-Spending Account (FSA) is an ideal way for consumers to save significantly each year. This tax-advantaged account allows employees to set aside a portion of earnings to pay for qualified health expenses. Money is simply deducted from the employee's pay into the FSA and is not subjected to payroll taxes.

While most often used to cover traditional medical expenses, such as prescriptions and doctor visits, FSAs allow many additional purchases. According to IRS Publication 502, "you can include in medical expenses amounts you pay for special equipment installed in a home, or for improvements, if their main purpose is medical care for you, your spouse, or your dependent."

IRS Notice Offers New Incentive Opportunities for the HVAC Industry

Walker Reid Strategies IRS HVAC improvements incentive

(PRWEB) July 24, 2012 -- Earlier this year the IRS issued notice 2012-26 modifying the current energy and cost reduction per-centages for partially qualifying property. The modifications are intended to stimulate the use of the EPAct 179D Incentive in the HVAC industry. Currently the criteria required to meet the energy and cost reduc-tions under the permanent rule of §179D have made the Incentive underutilized for HVAC systems.

In summary, notice 2012-26 modifies the partial qualifying criteria under the permanent rule of the §179D tax deduction by substituting the current reduction percentages with the following:        

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