[StarCross]

SS, Creative Source: take a minute to reward yourselves with a little inter-Atlantic tax humor.
- Brits are way out in front of Yanks on renewable energy...we all know that.
- The Housing Rescue bill just past earlier this month offers enormous tax relief via energy production tax credits to US residents and foreigners who pay US taxes. How? Removed the cap for solar energy equipment investments! Thanks to some gritty public officials like Barney Frank and the financial services committee seeking to stimulate investment into housing via this very attractive credit for renewables.
- How to take advantage of this superb tax credit vehicle? Not impossible, but not so easy. To take advantage of this tax credit, an investor may shelter dollar-for-dollar any tax liability payable to IRS or state tax dept. on earned income or on capital gains. Resulting tax credit can be taken back five years or forward five years depending on individual taxpayer's liability.
- The Residential tax credits available on the investment of pv on individual dwellings previously were capped at $2,000 but now rising to $17,000.
There is the rub. The Brits were way out in front of us again. Then pols in Washington figured out a rescue package. check it out HR 1424, US Congress passed this bill to save & extend superb solar energy tax credits.