Our tax services offer assistance with the preparation and filing of all required state,
and local returns. We view tax practice, however, as extending far beyond these
necessary and important compliance services.
GAPro Miami has developed and maintained our tax expertise over many years of
personal and direct dealings with our clients. Most importantly, we care about the success
of our clients in reaching their financial goals. We take pride in developing and maintaining
a comprehensive tax strategy for our clients that assists them in meeting both business
and personal goals.
You may be able to take the credits if you made energy saving improvements to your
home located in the United States in 2015.
Home. A home is where you lived in 2015 and can include a house, houseboat, mobile
home, cooperative apartment, condominium, and a manufactured home that conforms to
Federal Manufactured Home Construction and Safety Standards. You must reduce the
basis of your home by the amount of any credit allowed.
Main home. Your main home is generally the home where you live most of the time.
A temporary absence due to special circumstances, such as illness, education,
business, military service, or vacation, will not change your main home.
Costs. For purposes of both credits, costs are treated as being paid when the original
installation of the item is completed, or, in the case of costs connected with the
reconstruction of your home, when your original use of the reconstructed home begins.
For purposes of the residential energy efficient property credit only, costs connected
with the construction of a home are treated as being paid when your original use of
the constructed home begins. If less than 80% of the use of an item is for
nonbusiness purposes, only that portion of the costs that is allocable to the
nonbusiness use can be used to determine either credit.
Only the residential energy efficient property credit (Part I) is available for both
existing homes and homes being constructed. The nonbusiness energy property
credit (Part II) is only available for existing homes.
For the residential engergy efficient property credit You may be able to take a credit of
30% of your costs of qualified solar electric property, solar water heating property,
small wind energy property, geothermal heat pump property, and fuel cell property.
Include any labor costs properly allocable to the onsite preparation, assembly, or original
installation of the residential energy efficient property and for piping or wiring to inter-
connect such property to the home. The credit amount for costs paid for qualified fuel
cell property is limited to $500 for each one-half kilowatt of capacity of the property.
For the nonbusiness energy property credit A credit of 10 percent of the cost of
qualified energy-efficient improvements. Qualified improvements include adding
insulation, energy-efficient exterior windows and doors, and certain roofs. The cost of
installing these items is not included in the credit calculation. Additionally, a credit is
available, including the costs of installation, for certain high-efficiency heating and air-
conditioning systems, as well as high-efficiency water heaters and stoves that burn
biomass fuel. There is a lifetime limitation of $500, of which only $200 may be used for
windows. Qualifying improvements must have been placed in service in the taxpayer's
principal residence located in the United States through Dec. 31, 2016.