179D Extension 2015 update
In some exciting news, on Tuesday July, 21st 2015 , the Senate Finance Committee released “Modifications of the Chairman’s Mark”, which included the extension of and some changes to Section 179D. The modifications made are part of the inclusion of a proposed two-year 179D extension into the base text of SFC’s tax extenders package. The proposed […]
New Proposed 179D Extension
Tomorrow, Tuesday, July 21 at 11:00 AM ET, a two-year extension of Section 179D is included in the base text of the tax extenders legislation to be considered by the Senate Finance Committee. Chairman Hatch has scheduled a markup for this time, according to the SFC website. This new legislation will be providing an extension […]
Energy Efficient Buildings Tax Deduction
An energy tax incentive called Section 179D was created under the Energy Policy Act of 2005 (EPAct). This incentive is a tax deduction for energy efficient commercial buildings. The IRS Code Section 179D allows for an immediate deduction of up to $1.80 per square foot for commercial buildings that achieve a 50% reduction in total […]
179D Tax Break
The average American might be surprised to learn that commercial buildings consume approximately 70% of the electricity in this country. Awareness of the need for greener building is growing, and luckily, a little-known tax break is encouraging the building industry to produce or renovate construction that is more energy efficient. This tax break is called […]
The 179D Tax Break for Energy Efficient Commercial Building
In 2005, the Energy Policy Act was signed by President Bush and created a tax deduction for the construction of energy efficient buildings. This tax deduction is falls under Section 179D and offers energy tax incentives for owners, architects, engineers, ESCO’s and contractors of new and existing energy efficient commercial buildings. Section 179D provides tax deductions […]
Combined Tax Strategies Make Energy Efficient Upgrades More Desirable (179D Tax Deduction & Asset Retirement)
Many owners are seeing the benefit of replacing certain building components with energy efficient replacements. Also to lower energy bills, tax incentives can be combined to realize accelerated write-offs and lowering income tax bills. In 2006, Section 179D – the Energy Efficient Commercial Buildings Deduction was available to taxpayers, allowing immediate deductions up to $1.80 […]
Catching up on Missed 179D Tax Deductions
In 2005, Congress created the Section 179D Energy Efficient Commercial Building Deduction. Taxpayers who placed in service building components exceeding certain efficiency standards between 2006 and 2013 were eligible for a $0.60 to $1.80 per square foot tax deduction. If an eligible taxpayer did not take advantage of the 179D deduction in the year they […]
Retro-Active 179D Extension Provides New Opportunities
Since the Tax Increase Prevention Act of 2014 was signed into Law at the end of 2014, companies are finding themselves against the wall trying to begin and complete 179D certifications before tax filing deadlines. Instead, many companies have decided to file extensions to complete correctly and receive the full benefits available by the 179D […]
President Signs Tax Extenders Bill; 179D Tax Deduction officially extended for 2014
It’s official, on Friday December 19th the President signed into law the Tax Increase Prevention Act of 2014 (HR 5771). This officially extends the Section 179D Tax Deduction along with over 50 other expired incentives for individuals and businesses retroactively through the end of 2014. 179D Tax Deduction extension specifics The Tax Increase and Prevention […]
179D Tax Deduction Extended; Tax Extenders Pass in the Senate
With the Senate passing the Tax Extenders Bill (HR.5771) the 179D Tax Deduction has been extended into 2014. The vote was 76 yays to 16 nays currently extending all expired tax provisions retroactively from 12/31/2013 through the end of 2014. The bill will now move onto the President to be formally signed into law. The presidential […]
