Section 179D: Energy-Efficient Commercial Building Deduction
It is estimated that only 10 percent of qualifying projects take advantage of the 179D deduction. The Commercial Building Deduction, a part of the 2005 Energy Policy Act, encourages owners of commercial buildings reduce their energy consumption with a tax incentive which in turns also reduces building energy costs. How 179D Works Owners of commercial […]
Using Accelerated Depreciation and Expensing to Reduce Tax
If you are anything like a typical CPA, you would be busy examining all corporate & partnership returns trying to come up with ideas to save some money off the tax bill. You or your clients don’t need to lose sleep over this. Fortunately, there are ways to help your clients reduce their tax bills. […]
President Signs Tax Extenders into Law
On the afternoon of Friday, December 18th President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015. This Bill includes the extension of the 179D Tax Deduction retroactively for 2015 and all projects placed into service by the end of 2016. As part of the extension, the ASHRAE requirement will be […]
Qualification and Eligibility for Section 179D
Section 179D was intended to enhance the US’s energy independence by reducing the energy consumption in areas where it is needed the most: commercial buildings. Additionally, it aims to reduce energy consumption in governments buildings by allowing the AEC industry to claim the federal tax deduction. Here are some ways in which owners of commercial […]
Negotiators have reached agreement on extending Section 179D
House Speaker Paul Ryan, R-Wis., announced to Republican lawmakers at a conference meeting late on December 15 that negotiators have reached agreement on a tax-extenders package worth approximately $800 billion. This 2-year package will extend the 179D Tax Deduction retroactively for 2015 and make the incentive current for 2016. In addition to extending the expired […]
