The federal government allows businesses of all sizes to take advantage of available tax credits when they follow certain energy-saving practices. These “green” initiatives actually have the potential to save money for a company in a couple of ways. First, as mentioned, the tax incentives can lead to significant savings after a business makes energy efficient upgrades. Second, those upgrades – while sometimes costly up front – can lead to long-term savings on expenses such as the heating and cooling bill.

A Tampa CPA from Reliance Consulting, LLC, can help a small business owner determine the cost-effectiveness of certain “green” initiatives, as well as what tax credits could be available. In some cases, the energy efficient programs or construction you initiate might not garner an actual tax credit, but might still be worth the cost based on the potential long-term savings. The IRS lays out specific items that can make a business eligible for energy efficiency tax credits. These include:

• Use of energy efficient appliances, such as clothes washers and dryers, dishwashers, and refrigerators manufactured after Dec. 31, 2010
• Building with energy efficient plans for new homes
• Making certified energy efficient improvements to commercial buildings
• Using hybrid, electric, or alternative-fuel vehicles in fleets

There are many other ways a company might be able to find ways to leave a “greener” imprint, and the cost savings are not the only potential benefit. It might not be a great idea to build an entire marketing campaign around “green” initiatives, but there’s nothing wrong with letting your customers and potential customers know that your company cares about the environment and is savvy enough to do something about it.

To learn more about tax incentives available for “green” companies, contact a Tampa CPA from Reliance today.