One of your best clients walks into your office. Due to some bad investments, she has been forced to file bankruptcy. Making the situation even worse, she still owes $90,000 to the IRS… and according to the bankruptcy code she must pay in cash and reorganization is not an option.
Could energy tax credits provide a viable solution to mitigate — or even wipe out — this large tax liability owed to the IRS? Quite possibly, because there is a great deal of opportunity for your clients with tax credits that are available for certain types of energy investments. In this CLE course, attorney Kent Salveson will discuss how to obtain tax credits and deductions that can have a huge benefit for your clients. Kent will specifically talk about IRS Code § 48 (Investment Tax Credit), the basics of tax credits, the businesses that can utilize tax credits, how the tax credit works for taxpayers, the “active in management and operation” requirement, material participation, depreciation, passive income, the source of tax credits, carrying back the tax credit for up to 5 years and how to report the tax credit.
Kent Salveson has financed over $1 billion in tax equity and other investments over his 35 year career. He is regarded by his peers in the legal and accounting community as one of the most well versed deal-makers in the field of tax equity financing in the U.S. Kent holds three professional licenses. An attorney and licensed Real Estate Broker, Kent holds four different contactors license designations: general contractor, heating and air conditioning contractor, grading contractor and solar contractor.