Section 179 Deduction Limits Increased for 2018
There is news for this year in connection with Section 179. The law of H.R.1, aka, The Tax Cuts and Jobs Act, has been passed and signed recently, it establishes that the deduction limit for Section 179 has increased to $1,000,000 for the current year. At the same time, the limit on equipment purchases increased […]
Energy Tax Savings for Casinos
A savvy business owner is constantly looking to save money and cut costs in every avenue possible. While most casinos in America generally make a good profit, they are not excluded from economic fluctuations. Casino owners, just like other business owners, still have expenses and need to find ways to reduce them no matter their […]
179D Savings Opportunity for Hotels
These days, everyone is looking for ways to cut costs and save money—and businesses are no exception. Companies and individuals alike would be smart not to pass up any opportunities for savings to allow as much income to be retained as possible. One way for businesses to cut back on long-term expenses is to implement […]
Tax Reform Is an Even Bigger Challenge than Repeal
The House GOP health plan has failed, and the reaction of many congressional Republicans, including President Donald Trump, was to switch issues and change the focus to tax reform. Treasury Secretary Steve Mnuchin maintains a positive attitude about their chances of success, as he claims that tax reform is simpler to handle than the far […]
179D Tax Deduction for Architects and Engineers
In a lot of professions, it is important to understand how the tax code can affect a business operation. Architects and building engineers are no exceptions. One of the most important provisions that they should be aware of is the 179D Tax Deduction, commonly known as the Commercial Building Deduction. 179D gives architects and engineers […]
How To Maximize 179D Benefits
If you are a business owner or professional contractor/engineer, you are aware of the high cost that taxes can incur on your business proceeds. Many legal provisions provide for tax cuts. The Energy Policy Act (2005), Section 179D, consists of a provision for tax deduction applicable to energy efficiency modifications to commercial buildings. Under this […]
What You Should Know About The 179D Tax Deduction
President Barack Obama concluded a difficult situation initiated by Congress and Senate institutions that were seeking to end the expiry of over 50 provisions of the American tax code. On December 18, 2015, he signed the H.R. 2029 motion featuring the Consolidated Appropriations Act 2016 (also named the 2016 omnibus spending bill) that allowed the […]
Do Your Past Commercial Solar Projects Qualify For An Unused Tax Deduction?
Have you missed out on tax deductions from your solar projects simply from not knowing about them? Well, you are in luck. Nelson Marin, our own Director of Engineering, wrote a great article for Solar Industry Magazine, you can read it here. In a nutshell, buildings that have energy efficient systems, such as photovoltaic […]
