In short, purchasing carbon offsets won't be much of a factor when it comes to tax time for most Americans. In addition, carbon offsets purchased from for-profit organizations are not tax deductible, and eligible nonprofit carbon offsets are limited. However, if your family member owns a small business, they may be eligible for business tax deductions. CarbonCred encourages you to speak with a CPA or accounting professional for further advice on carbon offset tax deductions.

The calculations are based on national averages, considering family sizes of 2, 4, and 6 individuals, etc. It's important to note that these carbon offsetting calculations are approximations, as actual usage may vary slightly above or below the established averages for each category. CarbonCred strives to make this process simple and easy for families who desire to offset their carbon emissions by purchasing one subscription per family member at $50 per month per person. This will help offset one ton of carbon emissions per family member each month with no further effort on your part.

CarbonCred sources carbon offsets from vetted and verified carbon offset projects in the US and around the world involved in renewable energy like solar and wind, biomass, methane capture, oil and gas capping and more. All carbon offset projects available on CarbonCred provide supply of carbon offsets available for purchase and are all Verra and Gold Standard verified carbon offsetting projects.

Voluntary carbon offsets are a market-based mechanism through which individuals, businesses, and organizations can take responsibility for their greenhouse gas emissions by investing in projects that reduce or remove an equivalent amount of carbon dioxide from the atmosphere. These projects often include activities like renewable energy initiatives, reforestation, oil and gas capping, and methane capture projects. Participants purchase carbon credits generated by these projects, which represent a reduction or removal of a specific quantity of carbon dioxide. By buying these offsets, individuals and entities can compensate for their own carbon footprint, contributing to global efforts to mitigate climate change. While voluntary in nature, these offsets play a role in promoting environmental sustainability and corporate social responsibility, allowing participants to demonstrate a commitment to addressing climate issues beyond regulatory requirements.

Carbon credits and carbon offsets are terms often used interchangeably, but they have distinct meanings in the context of environmental sustainability. Carbon credits typically refer to the tradable units representing a specific amount of greenhouse gas emissions that a regulated entity is allowed to emit. These credits are often distributed or auctioned as part of a cap-and-trade system, where a set limit or cap is imposed on overall emissions, and entities can buy or sell credits to comply with these limits. On the other hand, carbon offsets are voluntary investments in projects that reduce or remove greenhouse gas emissions, allowing individuals or organizations to compensate for their own emissions. While both involve quantifying and mitigating carbon emissions, carbon credits are usually associated with mandatory compliance in regulated markets, whereas carbon offsets are a voluntary means for individuals and businesses to take responsibility for their environmental impact beyond regulatory obligations.

When you purchase carbon offsets on CarbonCred, our process involves sending you a detailed monthly invoice. This document outlines the specifics of the chosen carbon project, including comprehensive details on the number of metric tons of carbon offsets associated with your investment. In addition to the project particulars, the invoice also provides information regarding any applicable tax credits associated with your carbon offset purchase. By receiving a monthly invoice, you gain transparency into the impact of your investment into carbon offsets projects. The invoice serves as a comprehensive record, breaking down the key elements such as the quantity of carbon offsets, the specific project details, and any relevant tax credits associated with your commitment to environmental sustainability. This level of detail ensures clarity and accountability, allowing your business to track and understand the tangible contributions it is making towards carbon reduction initiatives.

Carbon credits are tradable units that represent a specified reduction or removal of greenhouse gas emissions, particularly carbon dioxide, from the atmosphere. These credits are part of market-based mechanisms designed to address climate change by putting a price on carbon. In cap-and-trade systems, governments or regulatory bodies set an overall emissions cap, and entities subject to these limits can buy or sell carbon credits to comply with their allocated allowances. The credits are generated through projects that reduce or offset emissions, such as renewable energy initiatives, reforestation, or methane capture projects. Carbon credits provide a financial incentive for businesses and industries to invest in sustainable practices and technologies, helping to mitigate climate change by encouraging the reduction of greenhouse gas emissions on a measurable and accountable basis.

CarbonCred sources supplies of carbon offsets available for purchase on our platform form trusted, vetted, and verified carbon removal and reduction projects in the US and around the world. Carbon offsetting projects range from solar and wind energy, to biomass, reforestation, biodiversity, oil and gas capping, methane capture projects, and more. All are Verra and Gold Standard verified projects.