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Rodman & Rodman’s Kathy Parker Outlines Subtleties of Clean Energy Tax Incentives at Environmental Business Council Conference in Boston

Kathy Parker, CPA, MST
Kathy Parker, CPA, MST

“With the elimination of the 1603 cash grant, the primary tax incentive driving renewable energy investment will be the Investment Tax Credit or ITC,” said Kathy Parker, speaking last week in Boston at the Renewable Energy Development Incentives and Financing Seminar, hosted by the Environmental Business Council of New England. Kathy Parker, CPA, MST is a partner at CPA firm, Rodman & Rodman, P.C., and a leader at the firm’s “Green Team” renewable energy practice.

The ITC is not simply a deduction, explained Parker. It is a tax credit good for up to 30% of the cost of the project, and is often an incentive that can only be enjoyed by entities with substantial passive income and a large tax appetite. Passive losses can only be offset by passive income. “C corporations with large income are great candidates to take losses, but sometimes these investors are hard to find or the deals are too small for larger investors to take an interest,” noted Parker. The credit can also be used to offset the Alternative Minimum Tax (AMT).

Parker went on to say that passive investors are individuals or entities participating in management activities less than 500 hours per year. Losses and credits are limited through what the IRS defines as Passive Activity Loss (PAL).  PAL can offset other passive income not related to the renewable energy project. Losses can be carried forward, while credits can be carried back one year and carried forward 20 years.

Tax equity can be structured several different ways for maximum return and minimum risk for the developer and tax equity investor, said Parker. Some of these options include Partnership Flips, and Sales – Leasebacks. “The choice of transaction type depends on the investor’s capital, liquidity, and need for return,” said Parker. “The flip affords the investor more flexibility while the leaseback does not require a substantial infusion of initial capital.”

About Rodman & Rodman P.C.

Founded in 1961 and listed in the Boston Business Journal’s “Top 50 Firms,” Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies. For three consecutive years, Rodman & Rodman has been named one of the “Best Accounting Firms to Work For” in Accounting Today. Rodman & Rodman is one of the only providers in New England with a specialized “Green Team”, a green energy and clean technology accounting and tax practice that serves “green” clients throughout the U.S.  The company is Green Business Certified. The firm has locations in Newton and Braintree, MA.  For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

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Rodman & Rodman CPAs Establish “Green Energy” Speaker’s Bureau

The Green Team
The Green Team

Rodman & Rodman, a full service CPA firm with a Renewable Energy and Cleantech specialty practice serving “green” clients throughout the U.S., has recently established a Green Energy Speaker’s Bureau.

Thomas Astore, CPA, JD and Kathy Parker, CPA, MST, who are partners at Rodman & Rodman and active leaders of the company’s Renewable Energy and Cleantech specialty practice known as the “Green Team”, are available to speak to alternative energy producers, businesses and other audiences that pursue energy efficiency initiatives.

Potential topics include (but are not limited to): Green energy tax and business strategies for solar, wind, biomass, and cleantech companies; commercial and residential energy efficiency investments; the types of state and federal tax rebates available for various green energy initiatives; and the newly developed incentives and assistance programs geared towards accelerating the growth of solar energy infrastructure to mitigate climate change.

Mr. Astore and Ms. Parker are recognized experts in renewable energy accounting and have been guest speakers at numerous Cleantech industry conferences and forums. Mr. Astore graduated from Hofstra University and Fordham Law School, where he was a member of the law review. Ms. Parker graduated from University of Texas at Austin and Bentley University. She is the recipient of the Massachusetts Society of CPAs’ (MSCPA) 5th Annual Women to Watch Awards. Most recently, Ms. Parker spoke at “Banker & Tradesman’s Renewable Energy Real Estate Conference” which was attended by more than 120 renewable energy project developers, property owners, investors and commercial lenders in the greater Boston area.

Speaking engagements featuring Thomas Astore or Kathy Parker may be arranged by contacting Kathy Bautze at Rodman & Rodman (617) 965-5959.

About Rodman & Rodman P.C. CPAs

Founded in 1961 and listed in the Boston Business Journal’s “Top 50 Firms,” Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies. The Rodman & Rodman “Green Team” is a specialized green energy and clean technology accounting and tax services practice within Rodman & Rodman, P.C. that serves “green” clients throughout the U.S.  The company is Green Business Certified and has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

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Donna L. Marchand, CPA Joins Damon & Associates CPA

Damon & Associates, Inc. a leading accounting, tax and wealth advisory firm on the South Shore, recently appointed Donna L. Marchand, CPA as a Senior Associate.

In her new role, Ms. Marchand will be responsible for corporate accounting, corporate and individual tax return preparation, and financial statement preparation.

Prior to joining Damon & Associates, Inc., Ms. Marchand worked as a Senior Associate at Burke and Associates, CPAs, Inc. for two years.  Ms. Marchand graduated with a Master of Science in Accountancy with distinction from Bridgewater State University and passed the CPA exam in February 2014. She also holds a Master’s Degree in Education with an Undergraduate in Elementary Education and previously was a teacher for 11 years.

Ms. Marchand is a member of the Massachusetts Society of Certified Public Accountants (MSCPA). She is a resident of Hingham.

About Damon & Associates, Inc.

For more than two decades, Damon & Associates’ principal, Michael Damon CPA has been providing professional accounting, tax and wealth advisory services to businesses and high net-worth individuals throughout Massachusetts. With a team of six and plans for additional staff, Damon & Associates continues to provide the highest level of service to closely held businesses, their owners and individuals at their new Pembroke firm.

Damon & Associates’ professional accounting and business services include accounting and audit services, tax planning and preparation, bookkeeping and business development services. The firm’s typical business client has sales ranging from $1M to $30M.  They also represent individuals seeking a high degree of consulting services in addition to annual tax preparation.

Damon & Associates is located at 300 Oak Street, Suite 220 in Pembroke, MA.  For more information, contact (781) 924-5684 or visit http://www.damoncpa.com.

 

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Jennifer N. Phinney Joins Damon & Associates CPA

Damon & Associates, Inc., a leading accounting, tax and wealth advisory firm on the South Shore, has recently hired Jennifer N. Phinney, a resident of Pembroke, as an Administrative Assistant.

Ms. Phinney will be responsible for day-to-day administrative duties, which include managing calendars, planning and coordinating meetings as well as assisting with general client needs and inquiries. Prior to joining Damon & Associates, Inc., Ms. Phinney worked for Hokanson Insurance Agency as a COBRA Administrator.

About Damon & Associates, Inc.

For more than two decades, Damon & Associates’ principal, Michael Damon CPA has been providing professional accounting, tax and wealth advisory services to businesses and high net-worth individuals throughout Massachusetts. With a team of six and plans for additional staff, Damon & Associates continues to provide the highest level of service to closely held businesses, their owners and individuals at their new Pembroke firm.

Damon & Associates’ professional accounting and business services include accounting and audit services, tax planning and preparation, bookkeeping and business development services. The firm’s typical business client has sales ranging from $1M to $30M.  They also represent individuals seeking a high degree of consulting services in addition to annual tax preparation.

Damon & Associates is located at 300 Oak Street, Suite 220 in Pembroke, MA.  For more information, contact (781) 924-5684 or visit http://www.damoncpa.com.

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Kathy Parker of Rodman & Rodman CPAs Explains Renewable Energy Project Tax Incentives at Banker & Tradesman’s Renewable Energy Real Estate Conference

Kathy Parker, CPA, MST
Kathy Parker, CPA, MST

“Despite the expiration of the ‘1603 Cash Grant Program’, green energy developers and investors still have a variety of attractive tax incentives to encourage new investment,” said Rodman & Rodman CPAs’ Kathy Parker, at the “Banker & Tradesman’s Renewable Energy Real Estate Conference” last week in Boston. Rodman & Rodman is a full service CPA firm where Ms. Parker serves as a partner, and an active leader in the firm’s Renewable Energy and Cleantech specialty practice. The Conference was attended by more than 120 renewable energy project developers, property owners, investors and commercial lenders in the greater Boston area.

According to Parker, qualified solar, landfill gas, wind, biomass, hydroelectric, geothermal electric, fuel cells, geothermal heat pumps, municipal solid waste, CHP/cogeneration, hydrokinetic power, anaerobic digestion, small hydroelectric, tidal energy, wave energy, ocean thermal, fuel cells (using renewable fuels), and microturbines, are eligible for a 30 percent investment tax credit. Although the credit will not be in cash, it can be used to reduce tax liability for one year back and 20 years forward, said Parker. After 2016, the investment Tax credit on Solar is scheduled to drop to 10 percent. In addition, 100 percent of the tax credits can also be used to offset the Alternative Minimum Tax (AMT).

Parker pointed out that bonus depreciation on renewable energy projects also ended in 2013. However, solar projects are still eligible for accelerated depreciation over five years.

About Rodman & Rodman P.C. CPAs

Founded in 1961 and listed in the Boston Business Journal’s “Top 50 Firms,” Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies. The Rodman & Rodman “Green Team” is a specialized green energy and clean technology accounting and tax services practice within Rodman & Rodman, P.C. that serves “green” clients throughout the U.S. The company is Green Business Certified and has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

Kathy Parker of Rodman & Rodman CPAs Explains Renewable Energy Project Tax Incentives at Banker & Tradesman’s Renewable Energy Real Estate ConferenceRead More

Rodman & Rodman Kicks Off New LinkedIn® Group to Aid Cleantech Entrepreneurs with Energy Accounting

Rodman & Rodman CPAs “Green Team” has announced that it has started a new LinkedIn® Group, entitled “Green Energy Accounting & Tax Strategies.”

The new LinkedIn group is intended to provide small to midsize renewable energy and cleantech (e.g. solar, wind, biogas, biomass, geothermal, energy efficiency) companies and entrepreneurs with a networking forum for discussions and guidance on relevant tax issues, best accounting practices, QuickBooks and other accounting software tips, and company/partnership financial structuring to optimize success and achieve financial goals.

“The survival of many green energy and cleantech companies can depend on understanding new and proposed energy tax laws, subsidies and grants,” said Steve Rodman, president of CPA firm Rodman & Rodman, P.C. “A green energy company has to be structured properly to take advantage of the optimal allocations of income and deductions. Even something as simple as setting up an entity’s accounting systems can be crucial to qualify for financing or for investment tax credits against future income.”

The Rodman & Rodman “Green Team” is a specialty accounting practice dedicated to providing alternative energy producers, and other businesses that pursue energy efficiency initiatives, with expert counsel and services in green energy tax accounting and business strategy. The team consists of experienced CPAs who are domain experts in alternative energy accounting and finances.

“We invite green energy and cleantech stakeholders to join the group and participate in productive discussions that will contribute to the success this growing industry,” said Rodman.

About Rodman & Rodman P.C.

Founded in 1961 and listed in the Boston Business Journal’s “Top 50 Firms,” Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies. The Rodman & Rodman “Green Team” is a specialized green energy and clean technology accounting and tax services practice within Rodman & Rodman, P.C. that serves “green” clients throughout the U.S. The company is Green Business Certified and has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

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Rodman & Rodman Recognized as the “Go To” Alternative Energy CPA Practice by Accounting Today Magazine

Rodman & Rodman, P.C., an independent accounting and tax firm with a specialized green energy and clean technology practice known as the “Green Team”, has been featured in Accounting Today in recognition of their work with alternative energy producers.

Accounting Today featured Rodman & Rodman in a “Practice Profile: Meet the Green Team” article. Named as one of the 100 “Best Accounting Firms to Work for” by Accounting Today for the third consecutive year, Rodman & Rodman garnered further attention from the publication for their unique alternative energy niche.

“We’re honored to be featured in Accounting Today for our work with biomass, wind and solar farm developers and clean tech companies in New England and across the country,” noted Steven P. Rodman CPA, MST, the firm’s president.

The Rodman & Rodman team is led by four partners: Steven P. Rodman CPA, MST, president; Kathy Parker CPA, MST; John P. McGovern CPA, ABV, CVA and Thomas Astore CPA, JD.

Astore, who leads the firm’s Green Team, talked about the complexities and commitment involved in serving renewable energy clients. “You have to be knowledgeable about the electric industry and the technology,” said Astore. “You also have to be ready to reach into your pocketbook for traveling to conferences and becoming a member of one or more renewable energy associations.”

Parker spoke about her Green Team role ensuring that renewable energy clients stay the course on grant application guidelines and processes (in particular, the 1603 Grant Program) and conducting complex audits reports for them.

To read the full article, visit:

http://www.accountingtoday.com/ato_issues/27_2/practice-profile-Meet-the-Green-Team-65549-1.html.

About Rodman & Rodman P.C.

Founded in 1961 and listed in the Boston Business Journal’s “Top 50 Firms,” Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies. The Rodman & Rodman “Green Team” is a specialized green energy and clean technology accounting and tax services practice within Rodman & Rodman, P.C. that serves “green” clients throughout the U.S. The company is Green Business Certified and has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

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Rodman & Rodman CPA featured in Accounting Today

Learn more about Rodman & Rodman’s Green Team and their alternative energy niche in this great feature in Accounting Today – http://www.accountingtoday.com/ato_issues/27_2/practice-profile-Meet-the-Green-Team-65549-1.html

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Rodman & Rodman’s Kathy Parker to be Feature Panelist at EUCI Renewable Energy Finance Conference

Kathy Parker, CPA, MST, Partner
Rodman & Rodman, P.C., an independent accounting and tax firm with offices in Newton and Braintree, MA, has announced that Kathy Parker, CPA, MST, will be a feature panelist at the EUCI Renewable Energy Finance Conference in San Francisco on December 3-4. Visit www.euci.com

Ms. Parker is a founding member of the Rodman & Rodman “Green Team,” a specialty accounting practice dedicated to providing alternative energy producers and other businesses that pursue energy efficiency initiatives with expert counsel and services in green energy tax, accounting, and business strategy. The team consists of experienced CPAs who are domain experts in alternative energy accounting and finances.

The EUCI Conference, “2013 Toolbox to Address the Uncertainty of Federal Incentives”, will address the challenges and opportunities for renewable energy projects, as the funding landscape adapts to a post-tax subsidy environment. In addition, the conference will outline steps that can be taken to build a robust and liquid secondary market which provides efficient pricing and optimal solutions for those both seeking capital and supplying it. The forum will also present a timely opportunity for participants to gauge the impacts and implications of the U.S. congressional and presidential voting results on the future of renewable energy project finance. Visit http://www.euci.com/events/?ci=1769&t=O

“As federal subsidies for alternative energy begin to diminish or even disappear over the next several years, project developers may have to find new revenue models as well as new sources of capital,” said Parker. “Proper corporate, project and partnership structuring as well as expert tax accounting will continue to play an important role in sustaining the health of this industry.”

About Rodman & Rodman P.C.

Founded in 1961 and listed in the Boston Business Journal’s “Top 50 Firms,” Rodman & Rodman, P.C. provides accounting, tax and business services to small and medium-sized companies. The Rodman & Rodman “Green Team” is a specialized green energy and clean technology accounting and tax services practice within Rodman & Rodman, P.C. that serves “green” clients throughout the U.S. The company is Green Business Certified and has been named by “Accounting Today” as one of the “Best Accounting Firms to Work For” in 2010, 2011, and 2012. For more information, email info@rodmancpa.com, visit their website at www.rodmancpa.com or contact (617) 965-5959.

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