FORT WORTH, Texas--(BUSINESS WIRE)--SourceCorp announces the extension of the Energy Efficient “Green” Building Tax Deduction and the two-year extension of the R&D Tax Credit. Today, Congress approved an unprecedented $700 billion government bailout and sent it to President Bush who quickly signed it. Energy Efficient Commercial Building Tax Deduction Extended through December 31, 2013. Section 179D(a) is a deduction for commercial building owners whose buildings meet certain energy standards. The deduction is as much as $1.80 per square foot for buildings that achieve a 50 percent energy savings target. Before claiming the deduction, the owner must obtain written certification from a professional engineer not related to the company using approved software that the required energy savings will be achieved. Research and Development Tax Credit The R&D tax credit was extended for two years through December 31, 2009. If you are involved in developing new products/processes, improving existing products, creating more reliable products, developing prototypes, design tools/jigs/molds/dies, apply for patents, testing new concepts, investment in manufacturing process activity, developing new technology or employ outside consultants and/or contractors to do any of these activities, you may qualify for the R&D Tax Credit.
