Are You Missing out on a Tax Break? Go Green to Get Yours Next Year

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If your 2012 wasn’t as green as it could have been, there’s no reason to look backward in regret: It’s all water under the bridge now, and the best thing you can do—for the earth, for your own sense of self-actualization and for your wallet at tax time next year—is to go green in multiple aspects of your life. Outside of the common tax-break areas of purchasing an electric car or renewable energy home system, here are a couple of top tax benefits you are likely missing out on:

Recycling Electronics: Did you know that just like donating to your church or donating to Goodwill, you can benefit from the government by donating your old electronics to an electronics recycling company  or nonprofit. In fact, you can even use TurboTax’s “ItsDeductible” tool to determine the value of the laptop or cell phone you are donating, according to IRS guidelines. For a donation of more than $500, you’ll need to complete Form 8283 with your 2013 tax return.

Hire a Veteran to do a Green Job: If you own a green business and hire a veteran this year, then you can benefit from the Vow to Hire Heroes Act, which will ensure that you receive a tax credit of up to $5,600 for each veteran hired and up to $9,600 if the veteran was wounded. In this way, you reap a financial reward for helping a veteran as well as helping the earth at the same time.

By YaShekia King

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