There are several significant clean energy tax credits available for business vehicles and property in 2024 and beyond. These credits are designed to incentivize businesses to adopt cleaner technologies and reduce their environmental impact.
Credits & Incentives
Can I claim the Work Opportunity Tax Credit?
Yes, you may be eligible to claim the Work Opportunity Tax Credit (WOTC), but eligibility depends on several specific requirements related to your business type, the employees you hire, and proper certification procedures.
Are there tax credits for offering health insurance to employees?
Yes, there are several tax credits available for employers who offer health insurance to their employees. The primary credit is the Small Business Health Care Tax Credit, along with various other considerations and requirements under the Affordable Care Act.
Can I still claim the Employee Retention Credit (ERC) in 2025?
No, you cannot claim the Employee Retention Credit (ERC) in 2025. The Employee Retention Credit (ERC) is only available for eligible employers that paid qualified wages to employees between March 13, 2020, and December 31, 2021
What are the 2024 small business tax credits I should know about?
The Research and Development Credit (IRC Section 41) has been made permanent and offers significant benefits for qualifying small businesses.