By: James K. Zahn, Esq., FALA, FAIA

This article is a follow up to my previous article “Tax Information Architects Should Know” in which I discussed the basics of a Section 179D tax deduction for architects of energy efficient publically owned commercial buildings.  A Section 179D deduction can be confusing to the architect attempting to obtain it. I asked Chuck Pinkerton and Julio Gonzales, IRS “qualified” individuals with Engineered Tax Services, to help me in the preparation of this article to clarify how the process of obtaining the tax deduction works. I believe this information may be of substantial financial benefit to architects designing publically owned energy efficient commercial buildings.  Private building owners regularly claim the Section 179D deduction for themselves, with the architect obtaining no tax benefit from the deduction under that circumstance.  This article applies only to publically owned energy efficient commercial buildings.

Public Buildings & Tax Deductions?

Public entities pay no income taxes, therefore the energy tax deduction allowed for under Section 179D, cannot really benefit them.  For energy efficient commercial building expenditures made by a public entity, the Secretary of the Treasury promulgated regulations that allows the energy tax deduction to be allocated to the “person primarily” responsible for designing the property in lieu of the public entity.  This allocation constitutes a substantial benefit to the architect, the “person primarily” responsible for designing the project.

How EPAct works in Government Projects:

EPAct contains a tax provision intended specifically to help the government sector save energy. The law provides an incentive to designers to incorporate today’s energy efficient products into their designs for government buildings. In the beginning, the architectural and engineering community had a hard time grasping this incentive because it is the first building-design tax incentive ever offered in the Internal Revenue Code. As designers have learned about the incentive they have become eager to use it. “Government” includes federal, state and local governments, including K-12 public schools. Although virtually all government building categories have benefitted from this incentive, the most frequent uses are for K-12 public schools, state universities and colleges, and parking garages. Other common categories include post offices, military bases, libraries, courthouses, hospitals and airports. ( International Parking Institute, September 2008).

Basic Process to Obtain a Section 179D Deduction:

My previous article addressed various steps necessary to obtain the tax deduction.  After the architect receives the energy tax allocation from the public owner as the designer of the energy efficient commercial building, the architect can then retain an independent  energy tax consultant, qualified by the IRS, who will then use specific government approved software programs to compute the energy-efficiency of (1) the building envelop, (2) the lighting system, and (3) the HVAC and hot water plumbing systems, to determine if the project’s energy efficiencies entitle the Architect to any of the three categories of tax deductions. The listing of government approved software programs is contained in Section 4, Internal Revenue Bulletin 2008-14, Notice 2008-40, April 7, 2008 and states the following:

            SECTION 4.  LIST OF APPROVED SOFTWARE PROGRAMS

.01 In General. The Department of Energy creates and maintains a public list of software that may be used to calculate energy and power consumption and costs for purposes of providing a certification under section 4 of Notice 2006-52. This public list appears at http://www.eere.energy.gov/buildings/info/tax_incentives.html.

SECTION 4. CERTIFICATION (Notice 2006-52, June 26, 2006)

Before a taxpayer may claim the § 179D deduction with respect to property installed on or in a commercial building, the taxpayer must obtain a certification with respect to the property. The certification must be provided by an independent licensed qualified individual and satisfy the requirements of §179D(c)(1). A taxpayer is not required to attach the certification to the return on which the deduction is taken. However, § 1.6001-1(a) of the Income Tax Regulations requires that taxpayers maintain such books and records as are sufficient to establish the entitlement to, and amount of, any deduction claimed by the taxpayer. Accordingly, a taxpayer claiming a deduction under § 179D should retain the certification as part of the taxpayer’s records for purposes of §1.6001-1(a) of the Income Tax Regulations. A certification will be treated as satisfying the requirements of § 179D(c)(1) if the certification contains all of the following:

.01 The name, address, and telephone number of the qualified individual.

.02 The address of the building to which the certification applies.

.03 One of the following statements by the qualified individual:

(1) Statement for energy efficient commercial building property: The interior lighting systems, heating, cooling, ventilation and hot water systems, and building envelope that have been, or are planned to be, incorporated into the building will reduce the total annual energy and power costs with respect to combined usage of the building’s heating, cooling, ventilation, hot water, and interior lighting systems by 50 percent or more as compared to a Reference Building that meets the minimum requirements of Standard 90.1-2001.

(2) Statement for energy efficient lighting property that satisfies the requirements of the permanent rule of section 2.03(1)(a) of this notice: The interior lighting systems that have been, or are planned to be, incorporated into the building will reduce the total annual energy and power costs with respect to combined usage of the building’s heating, cooling, ventilation, hot water, and interior lighting systems by 16²/₃ percent or more as compared to a Reference Building that meets the minimum requirements of Standard 90.1-2001.

(3) Statement for energy efficient lighting property that satisfies the requirements of the interim rule of section 2.03(1)(b) of this notice: The interior lighting systems that have been, or are planned to be, incorporated into the building satisfy the requirements of the interim rule of section 2.03(1)(b) of Notice 2006-52.

(4) Statement for energy efficient heating, cooling, ventilation, and hot water property: The heating, cooling, ventilation, and hot water systems that have been, or are planned to be incorporated into the building will reduce the total annual energy and power costs with respect to combined usage of the building’s heating, cooling, ventilation, hot water, and interior lighting systems by 16²/₃ percent or more as compared to a Reference Building that meets the minimum requirements of Standard 90.1-2001.

(5) Statement for energy efficient building envelope property: The building envelope that has been, or is planned to be, incorporated into the building will reduce the total annual energy and power costs with respect to combined usage of the building’s heating, cooling, ventilation, hot water, and interior lighting systems by 16²/₃ percent or more as compared to a Reference Building that meets the minimum requirements of Standard 90.1-2001.

.04 A statement by the qualified individual that the amount of such reduction has been determined under the rules of Notice 2006-52.

.05 A statement by the qualified individual that field inspections of the building performed by a qualified individual after the property has been placed in service have confirmed that the building has met, or will meet, the energy-saving targets contained in the design plans and specifications, and that the field inspections were performed in accordance with any inspection and testing procedures that (1) have been prescribed by the National Renewable Energy Laboratory (NREL) as Energy Savings Modeling and Inspection Guidelines for Commercial Building Federal Tax Deductions and (2) are in effect at the time the certification is given.

.06 A statement that the building owner has received an explanation of the energy efficiency features of the building and its projected annual energy costs;

.07 A statement that qualified computer software was used to calculate energy and power consumption and costs and identification of the qualified computer software used (see section 6 of this notice).

.08 A list identifying the components of the interior lighting systems, heating, cooling, ventilation, and hot water systems, and building envelope installed on or in the building, the energy efficiency features of the building, and its projected annual energy costs.

.09 A declaration, applicable to the certification and any accompanying documents, signed by the qualified individual, in the following form:

“Under penalties of perjury, I declare that I have examined this certification, including accompanying documents, and to the best of my knowledge and belief, the facts presented in support of this certification are true, correct, and complete.”

What is the magnitude of the benefit?

As I mentioned in my previous article, Architects are eligible for a Federal tax benefit of up to $1.80 per square foot for the design of energy efficient public buildings placed into service after January 1, 2006.  The benefits have been extended through December 31, 2013.  After reading the above, you may be asking yourself if it is worth all of the effort it will take to obtain the total tax deduction.  That’s a decision you will have to make for yourself.  Is the design of your building project really energy efficient?  If not, don’t waste your time going through this effort.  On the other hand, most buildings designed by architects today are energy efficient.  If that’s the case, why would you ignore the possibility of a substantial tax deduction?  Any money you don’t have to pay in income taxes is money you keep.

I asked Chuck Pinkerton to specifically comment on tax benefit statistics, awareness of these tax benefits, and case studies of the energy tax benefits some of his clients have received to date.  He responds as follows:

Why is the energy tax benefit not used?

Less than 2% of eligible taxpayers have filed for their energy tax benefits with the IRS.

Millions of taxpayers may be due significant refunds.

Why are taxpayers missing significant energy tax benefits and incentives?

Low Awareness- No one was previously interested during the “good” economic times.

Requires Qualified Independent Licensed Engineer with Qualified Software.

Requires Paperwork-179 D Deduction.

Goal: Energy Use,

In the US alone, Buildings account for:

72% of electricity consumption

39% of energy use

38% of all carbon dioxide (CO2) emissions

40% of raw materials

30% of waste output

14% of potable water consumption

A few examples of Architect benefits:

Government Office Building (South East) - 57,222 sf.

Architect Tax Benefit, $1.80 sf,  $103,000

Middle School (Mid-Atlantic) - 54,637 sf.

Architect Tax Benefit, $1.10 sf,  $60,010

High School (Mid-Atlantic) - 183,676 sf.

Architect Tax Benefit, $0.90 sf,  $165,308

High School (Mid-Atlantic) - 127,440 sf

Architect Tax Benefit, $0.40 sf,  $50,976

Middle / High School (Midwest) - 143,000 sf

Architect Tax Benefit, $1.20 sf,  $171,600

Elementary School (Midwest) - 110707 sf

Architect Tax Benefit, $1.00 sf,  $110,707

Middle School (Midwest) - 98,862 sf

Architect Tax Benefit, $0.90 sf,  $88,976

(NOTE:  MR. PINKERTON USED GENERIC, NOT THE ACTUAL, SCHOOL NAMES TO PROTECT THE ARCHITECT’S PRIVACY.)

Ideal Project Candidates for an Allocated Energy Tax Deduction to the Architect,

Schools, Government Buildings, Office Buildings, Retail, Commercial Buildings, Hospitality, Apartments, (four or more stories, for lease).

Who Qualifies for the deduction?

Building owners at the time of building improvements, Architects, Engineers, Contractors on Public Buildings for the taxable year that includes the date the property was placed in service.

I would like to thank Mr. Pinkerton and Mr. Gonzales for their contributions to this article, which I believe will help alert architects who design public projects to the substantial tax benefits that they may be entitled to.  I am a firm believer in never looking a gift horse in the mouth.  If a tax benefit exists, take it.  If you fail to at least investigate this potential benefit to you and your practice, I believe you may be leaving money on the table.   Again, as in the first article, please discuss this tax benefit with a knowledgeable accountant and an IRS qualified individual familiar with this type of tax deduction.

I asked Mr. Pinkerton and Mr. Gonzales if they would accept questions from our readers of this article.  They have agreed to answer any questions you may have regarding Section 179D Deductions and the process required to obtain it.  Engineered Tax Services, which handles over 100 certifications per month, concentrates on working with accountants and architects in analyzing and certifying that buildings, both publicly and privately owned, meet the government criteria for the energy tax credit.  

 For more information, please visit www.engineeredtaxservices.com or call us 1 (800) 236-6519.

Note:   The preceding article is not legal or accounting advice and should not be relied upon.   It is merely the authors’ opinions.   It is highly recommended that you consult with your own attorney and accountant regarding any IRS Tax Code issues.

For more information on ETS, please contact 800-236-6519 email info@engineeredtaxservices.com or visit www.engineeredtaxservices.com

By Joel Ackerman, CPA

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Was a Cost Segregation Study or Energy Study rule out due to a Net Operating Loss at the personal tax level of the shareholder/partner? Depending on the size of the client’s Individual Retirement Account (IRA) proposing a potential ROTH IRA conversion of their IRAs could provide not only significant income tax planning opportunities, but also can provide an avenue for a study to be viable.

With the recent turmoil in the stock market, many people would rather not think about taking a hard look at investment strategies for retirement. However, with current legislation that came into effect in 2010, along with possibilities of tax rates increasing in the near future, taxpayers can make some smart choices now that can really pay off at retirement age.

Gross Income Limitation Removed

Prior to 2010, individuals can only convert a traditional IRA to a Roth IRA if their modified adjusted gross income is $100,000 or less. For 2010 and forward, taxpayers can convert their traditional IRAs (and funds from certain other eligible retirement plans) to a Roth IRA with no gross income limitation. Therefore, no matter what the income level of the individual was, the Roth IRA conversion is available. The new legislation also removed the requirement for married couples to file jointly to be able to make this conversion.

Traditional IRA vs. Roth IRA

Most people are familiar with IRAs. Some are even aware that there are two kinds of IRAs: traditional IRAs and Roth IRAs. In a traditional IRA, participants can contribute $5,000 per year ($6,000 if age 50 or older). Whether or not the contribution is deductible depends upon the adjusted gross income of the taxpayer(s). If you are allowed to deduct the contribution, then any distributions - including your original contributions plus earnings - are taxable. If you are not allowed to deduct contributions, then only the earnings portion of any distribution is taxable.

In a Roth IRA, contributions are not deductible. However, all distributions - whether from original contributions or earnings - are not taxable. Therefore, taxpayers who convert a traditional IRA to a Roth IRA will not need to pay tax when the Roth IRA distributions are made. Also, a Roth IRA has no minimum distribution requirement when the account holder turns 70 1/2, as does a traditional IRA.

Tax Considerations

The initial conversion does have tax effects. An IRA conversion is treated as a taxable distribution, taxed as ordinary income at your marginal tax rate. Although this accelerates the taxable income that you would eventually pay on distributions from a traditional IRA, the future appreciation in the account grows tax-free. Also, for conversions made in 2010, a taxpayer can spread the income over two years: 2011 and 2012. This gives the taxpayer time to put aside money to pay the tax due without having to liquidate any of the retirement account assets.

After 2010, conversions can be made, but the tax will be due with the tax return filed for the year of conversion. Keep in mind that after the tax on the conversion is paid, all of the growth in the account can be distributed tax-free after the taxpayer reaches age 59 1/2. (Please note that there is also a five-year holding period that must be reached before tax-free distributions of earnings can be made.) Also, if you convert at the beginning of a tax year (say January 2010), you have until you file your tax return for that year (up to October 15, 2011 if you extend your 2010 tax  return) to recharacterize the converted funds if the account balance declines.

How does this relate to Cost Segregation Studies?

If you have a large IRA that can be converted to a ROTH, the deductions that a cost segregation study or energy study would provide, excess deductions can be used to offset the income earned on the ROTH conversion.

For example, if you have a personal net operating loss of $500,000 and an IRA of $700,000 the whole account could be converted and $200,000 additionally would be offset from the excess deductions provided by a cost segregation study or energy study.

For more information, please contact Engineered Tax Services by dialing 800-236-6519 or email info@engineeredtaxservices.com

Joel Ackerman, Director of Business Development for Engineered Tax Services was invited as a presenter in the roundtable conference. He discussed LEED and Green Building incentives, including the benefits of LEED certification in construction and its impact on project costs, tax reporting and rebates. Mr. Ackerman described to the audience the steps necessary for LEED certification and the process to qualify for Section 179D. ETS specializes in providing a wide spectrum of engineered accounting solutions such as energy tax credits, cost segregation studies, construction audits and insurance appraisals. ETS is a licensed engineering firm with professionally staffed engineers who marry the science of engineering with the principles of tax and accounting to arrive at financial solutions resulting in increased cash flow, minimized tax payments and increased ROI. ETS works in collaboration with clients’ CPA firm to ensure the process of obtaining your tax benefits follows legislative guidelines. For more information, please contact us at 800-236-6519 or email us at info@engineeredtaxservices.com

Mr. Cummings’s presentation drew nearly fifty guests consisting of CPA’s from JH Cohn’s New York and New Jersey offices, clients with real estate holdings, architects and engineers involved in green design for federal, state and local governmental entities throughout the area and consultants from several green energy services companies.   The 50-minute presentation addressed the basic requirements of the EPAct, the benefits available to property owners, architects, engineers and contractors and the methodology applied by ETS.   

Engineered Tax Services is a nationally-licensed engineering firm with professionally staffed engineers who marry the science of engineering with the principles of tax and accounting to arrive at financial solutions that result in increased cash flow, minimized tax payments and increased return on investment.  ETS specializes in providing a wide spectrum of engineered accounting solutions such as energy tax credits, cost segregation studies, energy audits, carbon footprint certification and insurance appraisals. For more information, please contact 800-236-6519 or email info@engineeredtaxservices.com

Hauppauge, NY, February 02, 2010 – Engineered Tax Services proudly announces that they have been recognized by the Suffolk County Bar Association (SBA) as a go-to resource for engineering-based tax information and services. The SCBA published Joel Ackerman’s “Using EPAct to Speed Tax Payback” in their December 2009 newspaper, The Suffolk Lawyer, which reached thousands of attorneys on Long Island.  

The published article is printed below in its entirety:

“Using EPAct to Speed Tax Payback”

The Energy Policy Act of 2005 (EPAct) is a complicated government method that encourages integrators to make US buildings more energy-efficient. Less than 1 percent of eligible buildings owners or leaseholders have taken advantage of this multi-billion dollar benefit.

The US government does a lot of good things to encourage more efficient building; unfortunately the process is cumbersome and requires third-party engineering certification. This comprehensive tax legislation is where we find the $1.80 per square foot tax benefit we all talk about and we’ll attempt to clarify the process and increase the awareness of this very important benefit. The elusive $1.80 that EPAct holds can be broken down into three categories: Lighting, HVAC and Building Envelope. Each is worth $0.60/SF in tax benefits. The EPAct relies on the ASHRAE 90.1-2001 specification as a baseline to calculate savings percentages. To qualify for the full $1.80, the building must be 50 percent more efficient than this 2001 standard. To qualify for the partial incentive, the savings must be 16 ²/₃ percent better than 90.1-2001 in the respective categories.

Lighting

Lighting consumes approximately 40% of the energy in commercial buildings; the goal is to rein in this energy hog. By using a $0.60 per SF tax benefit, EPAct encourages the use of more efficient fixtures and controls. In order to qualify for the lighting portion of the available deductions, lighting energy consumption must beat the ASHRAE 90.1-200 1 specifications for efficiency by 16 ²/₃%. If the building is undergoing a lighting retrofit or adding controls, it is worth investigating whether or not this new system will qualify for the $0.60 lighting deduction. In majority of cases the lighting savings level is achieved and can be introduced to your ROI calculations – win-win.

HVAC

HVAC is the second largest energy consumer in commercial buildings and can be very tricky to retrofit without major renovation and disruption to the space. The addition of new controls has the ability to bring the system energy consumption down by 16 213 percent in order to achieve the second tax benefit of $0.60/SF. This total of $1.20/SF could be included in the ROI calculations for your building owner. In a 100,000 SF building, this could be as high as $120,000 in tax benefits. Unlike tax credits, deductions don’t translate dollar for dollar; rather they are calculated as part of your tax return. The numbers add up fast and can make the purchase decision for your building owner easier.

Architects and designers

The benefits get even better for the architect and specifying segment of the market. The Government doesn’t pay tax, so what happens when the tens of thousands of schools, federal and state buildings are upgraded? Prior to 2008 this tax benefit was simply lost, or wasted. The government quickly realized that in order to encourage architects and designers to implement energy efficiency in federal buildings they had to provide encouragement. The EPAct was amended to run until 2013 and included a provision that for all public, government or non-profit buildings the EPAct tax benefit would go back to the designer of the specifications which could be the architect, designer or lighting contractor. This has resulted in approximately $25Mper month in tax benefits being discovered by one engineering/tax firm alone. As with many Federal grants and subsidies this EPACT deduction is out there to reward taxpayers for their efforts in saving energy. What better reward than with cash in the pocket from tax savings.

Want to be a hero to your clients? Did your client construct or renovate their lighting, HVAC, or building envelope to their commercial building? Discuss EPACT — you could save the client thousands of tax dollars.

Joel E. Ackerman, CPA is Director of Business Development for the Northeast for Engineered Tax Services, Inc. He earned a Masters degree in Tax from C.W. Post - Long Island University and a Bachelor of Science degree from Syracuse University. With over 16 years of experience in public accounting, Joel specializes in engineering-based real estate tax products such as cost segregation studies and energy efficiency studies.  He is active in the local CPA community and serves on the Board of Directors for the Suffolk County chapter of the New York Society of Certified Public Accountants. He is currently planning a series of seminars for the Suffolk and Nassau County Bar Associations on the benefits and technical aspects of real estate related tax and engineering opportunities.

ABOUT ENGINEERED TAX SERVICES

ETS has provided thousands of energy tax certifications since 2005. Handling over 50 certifications every month, they have perfected the process by working closely with the Internal Revenue Service on a regular basis. Their precise documentation meets and exceeds the standards required by the Department of Energy and the IRS and has consistently withstood the toughest scrutiny.  ETS is a member of the U.S. Green Building Council (USGBC). With the most innovative and highest-quality LEED and green building knowledge and training, the approved USGBC educational courses helps green building professionals across all market sectors build the capacity to build their careers.

Engineered Tax Services (ETS) is a nationally licensed engineering firm with professionally staffed engineers who marry the science of engineering with the principles of tax and accounting to arrive at financial solutions that result in increased cash flow, minimized tax payments and increased return on investment.  ETS engineering professionals have over 100 years of combined experience in energy modeling. The ETS team consists of multi-disciplinary professionals including Professional Engineers (PE), LEED Accredited Professionals (AP), Certified Public Accountants (CPA) and architectural professionals. ETS specializes in providing a wide spectrum of engineered accounting solutions such as energy tax credits, cost segregation studies, energy audits, carbon footprint certification and insurance appraisals.

CONTACT:
Joel Ackerman

Engineered Tax Services

Toll Free: 1.800.236.6519

Northeast Office: 631-870-3920

email: jackerman@engineeredtaxservices.com

website: www.engineeredtaxservices.com

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West Palm Beach, FL, February 02, 2010 – Engineered Tax Services, a nationally licensed engineering firm that marries the science of engineering with the principles of tax and accounting, announced today that Julio P. Gonzalez, CEO, will be presenting at the MiaGreen Expo & Conference on February 25 & 26. The presentation, “Government Programs and Tax Rebates for Energy Efficient Buildings” will cover what the tax benefits of the extended incentives originating with the Energy Policy Act of 2005 are, who they affect, and how to go about achieving and applying for them and maximizing their benefits.

“The most often overlooked benefits relative to the Energy Policy Act extension are the tax benefits construed for commercial building owners,” explained Mr. Gonzalez. “The Energy Policy Act of 2005 includes a tax deduction for investments in energy-efficient commercial building property designed to significantly reduce the heating, cooling, water heating, and interior lighting energy costs. It is important that people understand what opportunities lie within green building practices.”

Handling over 50 certifications every month, Engineered Tax Services has perfected the energy certification process by working closely with the Internal Revenue Service on a regular basis. Through precise documentation required by the Department of Energy and the IRS, Engineered Tax Services has helped thousands of clients benefit from “going green”.  Mr. Gonzalez explains that the most ideal candidates for EPAct deductions include:

•          New Construction – Schools, Office, Retail, Hospitality, Industrial, Multi-Family, Single-Family

•          Retrofits – Energy Performance Contracting, CRA Redevelopment

•          Green Buildings

•          LEED Certified Buildings

CASE STUDY:

·         Location: Brooklyn, NY 

·         Project Area: 346,638 SF  

·         Qualified for $0.60 per sq. ft.                                                     

·         179D Energy Tax Benefit:  $207,983

·         Cost Segregation Study Five Year Cash Benefit:  $16,975,757

·         TOTAL BENEFIT TO CLIENT:  $17,183,740 million

JULIO P. GONZALEZ is the Founder and CEO of Engineered Tax Services, Inc.  He is supported by a staff of dedicated professionals with expertise in engineering, architecture and accounting.  Julio is a pioneer is the tax energy field and devoted to the conservation of resources. He generously donates his time to the U.S. Green Building Council.  Julio is committed to educating the accounting, financial advisor and real estate investor communities on engineered accounting services and the related tax benefits of these services. He is a regular public speaker on a national level regarding cost segregation studies, green construction and the emerging energy tax programs. Julio has had several articles published nationally in many accounting and real estate investment publications. Julio has worked on automating the IRS-approved software programs to help accounting professionals understand and better educate their own clients on the significance of energy efficient buildings and how substantial the tax benefits can be to the investor in addition to the Earth’s resources. Julio is also on the Board of Directors for the National Park Trust Foundation, to which he devotes his time and energy to conserving National Park resources.

ABOUT ENGINEERED TAX SERVICES

ETS is a member of the U.S. Green Building Council (USGBC). With the most innovative and highest-quality LEED and green building knowledge and training, the approved USGBC educational courses helps green building professionals across all market sectors build the capacity to build their careers.

Engineered Tax Services (ETS) is a nationally licensed engineering firm with professionally staffed engineers who marry the science of engineering with the principles of tax and accounting to arrive at financial solutions that result in increased cash flow, minimized tax payments and increased return on investment.  ETS engineering professionals have over 100 years of combined experience in energy modeling. The ETS team consists of multi-disciplinary professionals including Professional Engineers (PE), LEED Accredited Professionals (AP), Certified Public Accountants (CPA) and architectural professionals. ETS specializes in providing a wide spectrum of engineered accounting solutions such as energy tax credits, cost segregation studies, energy audits, carbon footprint certification and insurance appraisals.

CONTACT:
Julio Gonzalez

Engineered Tax Services

Office: 1.800.236.6519

email: jgonzalez@engineeredtaxservices.com

website: www.engineeredtaxservices.com

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West Palm Beach, FL, January 28, 2010 – Engineered Tax Services, a nationally licensed engineering firm that marries the science of engineering with the principles of tax and accounting, announced today that their course, “Energy Tax Credits for Architects”, has been approved by the U.S. Green Building Council to be part of the Council’s national course catalog. The firm’s Chief Executive Officer, Julio P. Gonzalez, developed the course to help architects take advantage of energy tax credits, incentives and deductions. A webinar program is currently being scheduled and will be announced shortly. Engineered Tax Services (ETS) offers a similar online and in-house course designed specifically for accountants and is also registered as an education provider through the National Association of State Boards of Accountancy (NASBA).

“The Energy Policy Act offers tremendous opportunities to architects and they need to be aware of the significant tax benefits available to them through their professional trade,” stated Mr. Gonzalez.  “We are committed to green practices and partner with architects nationally to provide independent, third-party certification as required by the IRS to help them take advantage of these tax incentives and deductions.”

ENERGY TAX CREDITS

Architects are eligible for a Federal tax benefit of up to $1.80 per square foot for the design of energy-efficient public buildings placed into service after January 1, 2006. Benefits originally awarded to architects through the Energy Policy Act of 2005 (EPACT) have been extended by the federal government through December 31, 2013 with the support of the American Institute of Architects.

ETS has provided thousands of energy tax certifications since 2005. Handling over 50 certifications every month, they have perfected the process by working closely with the Internal Revenue Service on a regular basis. Their precise documentation meets and exceeds the standards required by the Department of Energy and the IRS and has consistently withstood the toughest scrutiny.  ETS is a member of the U.S. Green Building Council (USGBC). With the most innovative and highest-quality LEED and green building knowledge and training, the approved USGBC educational courses helps green building professionals across all market sectors build the capacity to build their careers.

ABOUT THE U.S. GREEN BUILDING COUNCIL

The U.S. Green Building Council (USGBC) is a Washington, D.C.-based 501(c)(3) nonprofit organization committed to a prosperous and sustainable future for our nation through cost-efficient and energy-saving green buildings. USGBC works toward its mission of market transformation through its LEED green building certification program, robust educational offerings, a nationwide network of chapters and affiliates, the annual Greenbuild International Conference & Expo, and advocacy in support of public policy that encourages and enables green buildings and communities.

ABOUT ENGINEERED TAX SERVICES

Engineered Tax Services (ETS) is a nationally licensed engineering firm with professionally staffed engineers who marry the science of engineering with the principles of tax and accounting to arrive at financial solutions that result in increased cash flow, minimized tax payments and increased return on investment.  ETS engineering professionals have over 100 years of combined experience in energy modeling. The ETS team consists of multi-disciplinary professionals including Professional Engineers (PE), LEED Accredited Professionals (AP), Certified Public Accountants (CPA) and architectural professionals. ETS specializes in providing a wide spectrum of engineered accounting solutions such as energy tax credits, cost segregation studies, energy audits, carbon footprint certification and insurance appraisals.

CONTACT:
Julio Gonzalez

Engineered Tax Services

Office: 1.800.236.6519

Cell: 561.358.7858

email: jgonzalez@engineeredtaxservices.com

website: www.engineeredtaxservices.com

Tax Incentives to be Focus of Upcoming USGBC of the Palm Beaches and Treasure Coast Branch Meeting

Palm Beach Gardens – Jan. 2010 – U.S. Green Building Council of South Florida will hold a meeting at the PGA National Resort and Spa on Thursday January 21, 2010 at 6:30 p.m. The meeting titled “Financing LEED and Retrofits” will discuss financial vehicles available by way of tax incentives to businesses and non-profits. The event will feature presentations on financial options available for funding green projects. The meeting is free for USGBC members and $10 for non-members.

Debbie Danto, LEED AP from Engineered Tax Services will be a guest speaker at the event. Ms. Danto will discuss in detail financial methods such as cost segregation and Epact Certification. Engineered Tax Services is a licensed engineering firm with professionally staffed engineers who marry the science of engineering with the principles of tax and accounting to arrive at financial solutions that result in increased cash flow, minimized tax payments and increased return on investment.  ETS specializes in providing a wide spectrum of engineered accounting solutions such as energy tax credits, cost segregation studies, energy audits and insurance appraisals. For more information, please contact 800-236-6519 or email info@engineeredtaxservices.com

Other special guest speakers include Will Volker with Efficiency Energy who will speak about the monetization of the energy tax benefits, and John Goodrich with US Energy Capital who will speak about financing of energy-efficient renovations and retrofits.

More information on the USGBC and its South Florida chapters may be found at http://www.usgbcsf.org/.