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Article Date:
October 2014

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How Tax Credits Make Historic Buildings More Affordable

A historic building could be an eye-catcher for your business.


But maybe you think these buildings are out of your price range.


Fortunately for you, your state and federal governments are extending you an offer—if you buy and restore a historic building, your friends in the government will give you tax credits to reimburse a big chunk of the cost of the restoration.


This is a good deal. Tax credits are much better than deductions because credits give you a dollar-for-dollar reduction in your taxes. If you spend $20,000 and get a 50 percent credit, that means you get a direct $10,000 reduction of your tax bill.


As you’ll see below, depending on the state in ... Log in to view full article.

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