Inflation Reduction Act of 2022 makes Major Changes to §179D and §45L Energy Tax Incentives.
We are excited to announce that the Inflation Reduction Act (IRA) of 2022 has drastically improved and expanded §179D Energy Efficient Commercial Building Tax Deduction and Extended and increased the §45L Tax Credit for Energy Efficient Homes. The new bill signed into law is full of exciting opportunities for energy-efficient buildings and homes! A […]
Expectations for Upcoming ASHRAE changes to §179D Tax Deduction
Together with §179D having been made permanent as part of the Consolidated Appropriations Act of 2021 this past December, one of the major changes came in the form of more stringent ASHRAE requirements for the qualification of the energy efficient commercial buildings. When the new standards will come into effect is still to be determined, […]
Changes to §179D as part of Consolidated Appropriations Act of 2021
At the end of 2020, the energy tax incentive industry after years of lobbying got a huge win with §179D being made permanent and the one-year extension of §45L Tax Credit (§179D residential little brother). Together, the extension of the legislation also brought some changes to the qualification standards used in order to substantiate the […]
Energy-Efficient Commercial Building Tax Deduction
The Energy-Efficient Commercial Building Tax Deduction is an important financial incentive, giving a break to building owners and designers to at least meet (and preferably exceed) the energy reduction requirements of old and new constructions. The tax reduction above received authorization from the Energy Policy Act of 2005 (P.L. 109-58) for the expenses that business […]
When It Makes Sense to Use the Section 179 Tax Deduction, and When It Doesn’t
Here is some good news for small business owners: You are eligible to receive a substantial, upfront tax break when you purchase new assets under the Section 179 tax deduction. This article will discuss when it is financially prudent to utilize the deduction and when it doesn’t. When you purchase a new asset to use […]
Small Business Owner’s Guide To The Section 179 Tax Deduction
Business owners are always looking for the best way to reduce taxable income. This can be particularly true for a new business enterprise. With so many employees now working from home it is also now essential to be monitoring work from home productivity using software or services so that you can make sure that staff […]
Tax Benefits for Architects, Engineers and Contractors Under Section 179D
Architects, engineers and contractors may be eligible for a significant tax benefit as a result of a provision in the Bipartisan Budget Act of 2018 which became law earlier this year. The budget act extended the provisions of Section 179D through the end of 2017. This article will provide an overview of the provisions of […]
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 to […]
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 […]
