179D and 45L Extended Retroactively for 2017 Projects
Early morning February, 9th the Bipartisan Budget Act was Passed providing a One-year retroactive active extension of §179D and §45L energy tax incentive provisions. This will allow projects placed in service in 2017 to be certified for qualifying energy tax incentives. Though the original expectation was that a 2-year extension would be passed, members of […]
How to Get Full Value from the PATH Act Credits This Tax Season
According to the IRS, the Protecting Americans from Tax Hikes (PATH) Act provides 20+ provisions designed to offer individuals, families and business owners additional credits, deductions and exclusions. It also includes provisions to guard against the possibility of tax fraud. As the new tax season begins, McGuire Sponsel wants to remind each of our valued […]
Complete Guide To 179D Tax Deduction
What is a Section 179 Deduction Credit? While the public image of the Section 179 deduction is that it is some overly complicated tax code, you’ll find that it’s quite simple. In a nutshell, the IRS code’s Section 179 tax deduction permits companies to subtract the whole buying price of particular pieces of machinery or […]
What Is The 179D Tax Deduction And How It Can Help You Save Money
The 179D deduction is part of a federal tax code section that offers incentives for the construction of energy-efficient buildings. Sometimes, the 179D tax deduction can also be used for other types of buildings that are being upgraded to include new energy-efficient features. A 179d tax deduction offers tax incentives both to the building’s owner […]
Why Every Business Owner Should Know about 179D Tax Deductions
If you’re a building owner, architect, engineer or contractor, going green can save you some tax dollars. The federal government has an interest in encouraging the construction of energy-efficient buildings since buildings are some of the biggest consumers of energy around. Since 2006, the government has been using the tax code to incentivize efficient building […]
Common Questions about Federal Energy Tax Deduction
The Energy Efficient tax deduction IRS 179D has been one of the most important energy saving and environmentally friendly IRS rulings in a long time. The tax deduction is designed to ensure that commercial building owners who comply with the efficient energy requirements are rewarded for their hard work. Here is a list of some […]
3 Steps to Help Clients Understand Energy Tax Deductions
Section 179D represents an opportunity for commercial real estate owners to convert their property into a tool for tax deduction. This section of the IRS rules and regulations is aimed at encouraging energy efficient construction and improvements to commercial buildings and residential building of 4 stories or more. Now, while some clients may be content […]
What Can Make Your Property Qualify under Section 179D
As the years have passed, Congress and the U.S. Government have taken a number of steps that promote green construction and energy usage. Over the last few years, this has been done primarily through legislations and provisions designed to benefit people investing in green technology and lower the energy consumption of their properties. One of […]
Why Energy Tax Deductions are Important for You
When an attorney is in their very first year at law school, they have yet to come in contact with the world of taxation. When they are taught taxation, the first message conveyed by professors is that any person who is a taxpayer will want to take advantage of every lawful tax deduction and credit […]
Quick Facts about Section 179D
Section 179D of the IRS Tax Code is one of the most interesting and surprisingly underused tax deductions available. The best part about 179D is its actual requirements. Your qualifying building will have a lower operational cost as a result of meeting the 179D standard. So why are most people not making use of this […]
