Dan and Stephen use a real life example to explain what the tax credit is and how it works. The Federal Solar Tax Credit, also known as the ITC, can help you maximize your return on investment when going solar.
But what is a tax credit? The ITC is a credit against your tax liability for new residential and commercial solar panels to help cover the cost of your system. It is claimed on your federal income taxes and is a dollar-for-dollar credit that lowers for your federal taxes. This means if you claim a $6,000 federal tax credit, your federal income taxes owed are reduced by $6,000.
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Iconic Energy Solar Professionals
4617 American Rd.
Rockford, IL 61109
815-975-8303
How the Federal Solar Tax Credit Works
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