The Emergency Economic Stabilization Act of 2008 (better known as the "bailout"), included continuation of some tax breaks for consumers and businesses, for implementing energy-saving measures. Although most of these measures are intended for public utilities and fuel-production businesses, some apply to other general businesses. "Going green" might provide your business with some tax savings. For example, here is one provision that might be helpful to your business:[/p[
Energy-Efficient Property
Energy-efficient property installed in commercial buildings The energy savings must be accomplished through energy and power cost reductions for the building’s HVAC, hot water, and interior lighting systems. The amount deductible is up to $1.80 per square foot of building floor area for buildings achieving a 50% energy savings target. Available through December 31, 2013. The IRS has also issued a bulletin providing more detail about deductions for commercial property owners for energy efficiency measures.
Alternative Motor Vehicles and Hybrids
The IRS continues to provide information on tax savings for the purchase of alternative motor vehicles and hybrid cars. The list of cars is expanding as more auto makers include a hybrid in their lineups. You must be the original purchaser of this vehicle, but you receive a direct tax credit (as opposed to a deduction), which means greater tax savings.
