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How to use the Solar ITC Calculator
How to use the Solar ITC Calculator
When logging In make sure to click Log In with Email and use the login Information provided
When logging In make sure to click Log In with Email and use the login Information provided
What Number to Enter?
What Number to Enter?
Click the Link: How to find your tax bracket? Under Est Federal and State Taxes
Federal Tax
Federal Tax
Find the tax rate based off of Income and Tax Status. For example If they are married and make 100k a year they will be paying 22% Federal Taxes
State Tax
State Tax
Look at the State by State Tax guide to find the estimated rate. For example North Carolina Is a flat 4.5%.
Fed Rate + State Rate
Fed Rate + State Rate
If the Federal Rate Is 22% and the State Rate Is 5% then you will put In 27 under the Estimated Federal and State Tax Rate
Total Incentive
Total Incentive
Take the amount listed In year 2 and multiply It by 5 to get the total estimated depreciation deduction amount. In this case It would be $2356 x 5 = a total depreciation amount of: $11,780
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