Green Options » tax break

Stimulus Package Gives Families $65 a Month Tax Break: Don’t Spend It All In One Place

Derek Markham — Sun, 22 Feb 2009 06:11:20 +0000

By April 1st, most workers will see a reduction in taxes withheld due to the $787 billion economic stimulus package, but unfortunately, the extra $65 a month for a family of four isn’t going to go very far.

It’s certainly not going to make the payment on a new car or house, but tax breaks on those purchases are also being touted as an important part of the stimulus package. And it’s not going to keep your mortgage payment current.

$700 Billion Bailout Includes Tax Break for Bicycle Commuters

Meg Hamill — Sun, 12 Oct 2008 18:22:09 +0000

Tacked on last minute to the $700 billion bailout, bicycle commuters across the nation will be eligible for for a tax benefit that is already available to both train & bus commuters.

After $700 billion of our American tax dollars just went to bail out private banks, it’s a small relief that some laws were squeezed into that deal, with the sole purpose of benefiting people and the planet.

Starting January 1st, those who commute via bicycle to work are eligible to receive $20.00 per month in tax-free reimbursements from their employer. The reimbursement is meant to defray the costs of owning and operating a bike. Employers can deduct this expense from their federal taxes.

Federal Bailout Extends Green Building Tax Credits

Timothy B. Hurst — Fri, 10 Oct 2008 16:01:26 +0000

As everyone knows by know, several “sweeteners” were added to the $700 billion financial bailout to get previously disinterested members of the house to jump on board. Among the less publicized sweeteners was the extension of the Energy Efficient Green Building Tax Deduction.

Energy Efficient Commercial Building Tax Deduction

Extended through December 31, 2013. Section 179D(a) is a deduction for commercial building owners whose buildings meet certain energy standards. The deduction is as much as $1.80 per square foot for buildings that achieve a 50 percent energy savings target.