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Federal Solar Tax Credit

What is the Federal Solar Tax Credit?

What is the Federal Solar Energy Tax Credit?

The Federal Solar Tax Credit is a credit you can claim for installing solar powered equipment in your home, which can ultimately reduce the amount of tax you need to pay to good old Uncle Sam.

The Environmental Protection Agency and the Department of Energy wants to encourage Americans to switch to solar power through the Energy Star program. In return for reducing your carbon footprint, you can claim the Federal Solar Tax Credit on your taxes.… Read the rest

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What is the IRS Mileage Rate Tax Deduction?

The IRS has announced the standard Federal mileage rates for the new tax year. If you must drive for your job, medical reasons, or as part of a charity effort, you could get a tax deduction on your mileage and reduce your overall tax bill.

What is the current IRS mileage tax rate?

How Much is the Current Standard IRS Mileage Rate?

Starting from the beginning of the calendar year, the standard mileage rate for vehicles used for work, medical, and charitable purposes are as follows:

  • 57.5 cents per business mile.
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