Archive for October, 2008

Many people thought the 2005 Energy Tax Credits were going to expire this year, but the bailout plan extended them to 2013. As a result, substantial opportunities continue to await clients of those CPAs who understand how to take advantage of these tax benefits. The California Society for CPAs will conduct a webinar in conjunction with Engineered Tax Services on November 06, 2008 from 11:00am – 1:00pm PST (Registration at 11:00am) to educate members on the significance these benefits can have in terms of tax savings for their clients.

In a state like California, where sustainability and conserving energy is such an important part of doing business, any CPA who knows how to identify these opportunities will be at a decidedly competitive advantage. Julio Gonzalez, CEO of Engineered Tax Services, Inc., is an expert on the Energy Tax Credit Act and will guide webcast participants through the intricacies of the law. After the webcast, participants will assume a stronger role when working with contractors and property owners as they gain the maximum tax benefits for their clients.

“This month Congress approved, and the President has now signed into law, a measure that will help keep America’s energy efficient commercial building, emerging wind, solar and geothermal industries in business. This is a major and most significant legislation approved by Congress this year to help address the energy conservation issues in the United States” stated Julio Gonzalez, CEO of Engineered Tax Services. “Engineered Tax Services is excited to work with the California Society of CPAs to provide an educational course that discusses the crux of these important tax incentive programs needed to spur energy efficiency and renewable energy in the United States and I’m very proud that Engineered Tax Services has been at the forefront in educating the CPA community on these energy efficient tax programs” added Julio Gonzalez.

This webcast is free to qualifying California Society 08-09 VP members.

BURLINGTON, ON. and WEST PALM BEACH, FL. – The convergence of accounting and energy management took a leap forward when Energy Advantage and Engineered Tax Services created a shared vision for delivering comprehensive energy and financial solutions to commercial and industrial energy users.  By integrating the companies at the engineering, marketing and business levels, the alliance will allow both companies to drive new growth opportunities and offers the potential to further reduce total energy and energy–related environmental costs along with providing maximum tax incentives for customers.

Energy Advantage is North America’s leading independent, objective energy and environmental management firm. Our Total Energy and Environmental Management program (TEEM) is the most effective way to reduce costs, manage risks and reduce the environmental impacts of energy use. Combining 15 years of experience, client interaction, and current industry best practices, we help our clients turn a sizable business expense into a clear business advantage.

A decision to work with Energy Advantage is strictly a business decision. Our TEEM approach can yield paybacks as high as 5 to 1 on every dollar invested. TEEM helps clients manage their energy-related risk so they can focus on their core business.

Industry best management practices coupled with Energy Advantage’s expertise ensures a change-management process that yields results: structured, integrated, collaborative, comprehensive with strong reporting structures rooted in industry-leading data and information management systems.

What services does Energy Advantage provide?

• Energy strategic planning and action plan implementation.
• Energy commodity contract negotiation, purchase and ongoing contract management.
• Energy use and efficiency monitoring and reporting.
• Invoice verification, management, accounting and payment.
• Building & facility energy efficiency.
• Energy awareness programs.
• Green building design, including modeling and incentive funding applications.
• Emissions management, including monitoring and credits trading.
• Distributed energy resource management.

Why do businesses buy these services?

• Deregulation, supply-side failures, emissions management, corporate social responsibility issues, and other factors have brought energy and environmental concerns into focus.
• Market complexity is increasing, and becoming more difficult to manage across supply jurisdictions with differing rules/regulations.
• Energy pricing is unpredictable, volatile and trending upwards.
• Emissions control and credit trading is rapidly evolving.
• Credit is becoming an increasingly important issue for both end-users and suppliers.
• Financial risk of not addressing these issues is significant.
• Successful energy management can translate into competitive advantage.
• Outsourcing cost-effectively adds expertise, and economies of scale for energy-using organizations.

What benefits do Energy Advantage’s customers realize?

• Reduced energy-related operating costs.
• Energy price predictability.
• Efficiency and cost improvements.
• Supply assurance.
• Increased transparency and accountability.
• Competitive advantage.
• Green marketing.
• Improved corporate sustainability.

About Energy Advantage Corporation (EAC):  EAC is the wholly-owned US sales and marketing affiliate of Energy Advantage Inc., a leading independent provider of total energy and environmental management services, providing independent and objective, on-going advice and services to North America’s premier commercial, industrial and institutional end-users.  Energy Advantage has no financial or operating ties to any energy or equipment supplier and helps large, multi-facility end-users manage the risks and costs associated with the procurement, administration and consumption of energy.

About Engineered Tax Services, Inc.:  Engineered Tax Services is the premier firm in the United States marrying the science of energy engineering with the principles of tax and accounting to arrive at financial solutions that result in increased cash flow, minimized tax payments and increase ROI.

IRS sanctioned services include engineered based Cost Segregation Studies, Energy Tax Deductions, Energy Construction Audits, Research & Development Credits, Insurance Replacement Appraisals, Condo Reserve Studies and Property Tax Appeals.

For more information call 1-800-320-0948, ext 701.

E-mail qa@engineeredtaxservices.com

The President signed into law a measure to renew critical tax incentives for energy efficiency and renewable energy sources like wind, solar and geothermal.

A number of the energy efficiency and renewable tax incentives included in the broader legislation were modeled after bipartisan legislation previously authored by Senator Feinstein along with Senator Olympia Snowe ( R-Maine ) and others. These incentives were set to expire at the end of the year.

“Congress today approved, and the President has now signed into law, a measure that will help keep America’s energy efficient commercial building, emerging wind, solar and geothermal industries in business. This is a major and most significant legislation approved by Congress this year to help address the energy conservation issues in the United States” stated Julio Gonzalez, CEO of Engineered Tax Services. “Engineered Tax Services has worked hard educating the American Public on the importance of these much-needed tax incentive programs needed to spur energy efficiency and renewable energy in the United States and I’m very proud that Engineered Tax Services has been at the forefront in promoting energy efficient tax programs” added Julio Gonzalez.

The extension of the energy provisions provides an estimated $1.779 billion in incentives for energy efficient buildings, based upon legislation introduced by Senators Snowe and Feinstein, the Extend Act ( S.822 ).

Critical components of the extension include the following incentives:

1. Renews critical tax credits for energy efficient upgrades for existing homes, such as air conditioners and insulation.
2. Extends a tax credit for energy efficient new homes up to $2,000.
3. Extends for five years a landmark energy efficient commercial buildings deduction.
4. Provides eight years of tax stability to the solar industry.
5. Extends the 30 percent investment tax credit for solar energy property and qualified fuel cell property through 2016 – this will provide long-term stability to the solar and fuel cell industries in California. With this provision in place, large-scale solar projects will move forward.
6. Extends the credit for residential solar property for eight years through 2016, and removes the credit cap (currently $2,000) for solar electric investments.

Engineered Tax Services is a licensed engineering firm and the premier firm in the United States at marrying the science of energy engineering with the principles of tax and accounting. ETS provides IRS sanctioned services to include engineered based Cost Segregation Studies, Energy Tax Credits, Research & Development Credits, Insurance Replacement Appraisals and Property Tax Appeals. . For more information regarding this press release, please feel free to contact Julio Gonzalez, CEO of Engineered Tax Services at 1-800-236.6519 or visit their website at www.engineeredtaxservices.com.