Homeowners still have time this year to make energy-saving and green-energy home improvements and qualify for either of two home energy credits.

The Non-business Energy Property Credit is aimed at homeowners installing energy efficient improvements such as insulation, new windows and furnaces. The credit is more limited than in the past years, but can still provide substantial tax savings.

• The 2011 credit rate is 10 percent of the cost of qualified energy efficiency improvements. Energy efficiency improvements include adding insulation, energy-efficient exterior windows and doors and certain roofs. The cost of installing these items does not count.
• The credit can also be claimed for the cost of residential energy property, including labor costs for installation. Residential energy property includes certain high-efficiency heating and air conditioning systems, water heaters and stoves that burn biomass fuel.
• The credit has a lifetime limit of $500, of which only $200 may be used for windows. If the total of non-business energy property credits taken in prior years since 2005 is more than $500, the credit may not be claimed in 2011.
• Qualifying improvements must be placed into service to the taxpayer’s principal residence located in the United States before January 1, 2012.

Homeowners going green should also check out the Residential Energy Efficient Property Credit, designed to spur investment in alternative energy equipment.

• The credit equals 30 percent of what a homeowner spends on qualifying property such as solar electric systems, solar hot water heaters, geothermal heat pumps, wind turbines, and fuel cell property.
• No cap exists on the amount of credit available except for fuel cell property.
• Generally, labor costs are included when figuring this credit. 

Not all energy-efficient improvements qualify for these tax credits, so homeowners should check the manufacturer’s tax credit certification statement before they purchase. Taxpayers can normally rely on this certification statement which can usually be found on the manufacturer’s website or with the product packaging.
 
Eligible homeowners can claim both of these credits when they file their 2011 federal income tax return. Because these are credits and not deductions, they reduce the amount of tax owed dollar for dollar. An eligible taxpayer can claim these credits regardless of whether he or she itemizes deductions on Schedule A.

If you have any questions regarding this information, please contact our office at (239) 433-5554.  Our team of professionals welcomes the opportunity to discuss your specific situation further. You may also visit us on the web at www.markham-norton.com.

After years of objections, a law enacted in 2006 that would’ve withheld 3 percent of government payments beginning in 2013 to contractors for taxes has been repealed by Congress and is headed to the President for his signature. President Obama has already said he supports the repeal as part of his American Jobs Act.

Repeal of the provision has been supported by business associations, including the Chamber of Commerce, National Association of Manufacturers, and National Federation of Independent Businesses. They say the IRS provision hurts job creation because it restricts cash flow to contractors.

If you have any questions regarding this information, please contact our office at (239) 433-5554.  Our team of professionals welcomes the opportunity to discuss your specific situation further.  You may also visit us on the web at www.markham-norton.com.

Team member Christi Sarlo of Markham Norton Mosteller Wright & Company has recently been named the Board President for Special Equestrians for 2012. The nonprofit organization helps children and adults with disabilities by providing a structured therapeutic horseback riding program and equine-assisted activities.

The new leadership board, elected at the annual meeting, includes president Christi Pritchett Sarlo, Markham Norton Mosteller Wright & Company, P.A.; first vice president Allison Leone, Visually Impaired Persons of Southwest Florida; second vice president April Tennesen, Lee County Public Schools; secretary Kathleen Berlick, volunteer; treasurer Freda Jones, Raymond Building Supply Corp.; and executive director Jan Fifer, volunteer.

The mission of Special Equestrians is to improve the physical, mental and emotional well-being of individuals with disabilities through the equine experience whom are referred by doctors, therapists and teachers.

The organization, a 501(c)(3) tax-exempt local charity, is supported solely by individual donations and service fees donated by riders.

For additional information, contact 239-226-1221 or visit www.specialequestrians.net.

Markham Norton Mosteller Wright & Company is pleased to announce that it has successfully completed a rigorous peer review of the firm’s accounting practices. The review concluded the firm compliance with the stringent quality control standards set by the American Institute of Certified Public Accountants (AICPA), the national professional organization of CPA’s.                      

The AICPA established the peer review process to promote quality of service in public accounting firms. The process involves a periodic outside review, performed by another accounting firm, which insures that all public accounting firms adhere to the same level of quality service.              

Markham Norton Mosteller Wright & Company P.A. is a certified public accounting and consulting firm with offices in Fort Myers and Naples. They offer a wide range of services including business consulting, technology consulting, technology management and support, tax preparation and planning, litigation, mediation, forensic accounting and elder services. For more information, call 239-433-5554 or visit www.markham-norton.com.

Susan Schade joins the firm of

Markham Norton Mosteller Wright & Company

Markham Norton Mosteller Wright & Company, P.A. announces that Susan Schade has joined the firm as an administrative assistant in the Fort Myers office. In this role, Schade is instrumental in the day-to-day operations of the front office and greeting clients. Schade joins the firm after relocating to southwest Florida from Michigan.

Markham Norton Mosteller Wright & Company P.A. is a certified public accounting and consulting firm with offices in Fort Myers and Naples. They offer a wide range of services including business consulting, technology consulting, technology management and support, tax preparation and planning, litigation, mediation, forensic accounting and elder services. For more information, call 239-433-5554 or visit www.markham-norton.com.

Sandie Peterson, SPHR of Markham Norton Mosteller Wright & Company, P.A. has been appointed to the HR Florida State Council position of Historian for 2012.  This newly created position has responsibilities of maintaining a record of Council activities and accomplishments for the year, designing, developing and updating the HR Florida web page “scrapbook,” recording the total volunteer hours for Council core positions to raise awareness of volunteer value and working with the Immediate Past President in developing and submitting the annual Society for Human Resource Management Affiliate Program for Excellence (SHAPE) report.

Markham Norton Mosteller Wright & Company P.A. is a certified public accounting and consulting firm with offices in Fort Myers and Naples. They offer a wide range of services including business consulting, technology consulting, technology management and support, tax preparation and planning, litigation, mediation, forensic accounting and elder services. For more information, call 239-433-5554 or visit www.markham-norton.com.

Sandie Peterson, SPHR and HR Consultant with Markham Norton Mosteller Wright & Company will present on November 17th in conjunction with SCORE and the SBDC at FGCU at the Liles Hotel in Bonita Springs. For more information and to register, please visit www.sbdcseminars.org