Taxes

Are You Eligible for the New 2025 Tax Credits?

The 2025 tax year introduces several expanded and new tax credits, such as a 30% Residential Clean Energy Credit for solar, wind, and geothermal systems with no upper limit, a potentially enhanced Child Tax Credit, and stricter eligibility for electric vehicle credits requiring North American assembly. Additional opportunities include the Energy Efficient Home Improvement Credit with specific caps per item, and the Work Opportunity Tax Credit for diverse workforce hiring, each with specific requirements and income-based phase-outs, underscoring the need for early preparation and potential consultation with tax professionals.