Uncovering Untapped Tax Benefits: How 2020-2022 Residential Projects Can Still Benefit From The $2,000 Per Unit §45L Tax Credit
In the world of residential real estate, developers continually seek avenues to maximize returns on investment (ROI) in an industry known for tight margins. We’ll take a look into the advantages of §45L tax credit, focusing on how incorporating energy-efficient features promotes sustainability and leads to a potentially $2,000 per unit tax credit. Understanding the […]
IRA Updates §179D Deduction
179D’s energy-efficient commercial buildings deduction encourages taxpayers to upgrade specific commercial buildings. In December 2020, the Consolidated Appropriations Act of 2021, P.L. 116-260, made the §179D deduction permanent. On Aug. 16, 2022, the Inflation Reduction Act of 2022, P.L. 117-169, amended §179D. The changes apply to tax years starting after Dec. 31, 2022, and eligible […]
Busting Common Misconceptions: Only large projects and institutions can enjoy the benefits of §179D Deductions
Reality: The §179D deduction is beneficial to organizations of varied sizes. The §179D deduction has often been misconstrued as a benefit exclusively reserved for large-scale projects and institutions. However, the reality is far from this common myth. Even though more extensive facilities may have significant cost reductions due to their size, smaller tax-exempt organizations with […]
Busting Common Misconceptions: There Is Little Certainty in the §179D Process, and It Is Complicated
One of the common misconceptions surrounding the §179D deduction is the perception that the claiming process is both intricate and uncertain. The fear of complexity often discourages organizations from exploring this avenue to reduce their tax liability. Reality: Expert Advice and Certainty Contrary to the myth, the §179D process can be streamlined and made more […]
Busting Common Misconceptions: §179D Only Applies to New Buildings
Reality: Renovations are a Game-Changer Too! The truth is that §179D is not exclusive to new constructions; it extends its benefits to renovations as well. This misconception has left many property owners unaware of the potential benefits awaiting them when making energy-efficient upgrades to their existing commercial buildings. Under §179D, property owners can qualify for […]
The Ultimate Guide to the §179D Tax Deduction: Saving Money While Going Green
Building owners and designers of tax-exempt buildings who want to save money while being environmentally aware should look into §179D as a resource in this age of sustainability-focused business planning and growing environmental consciousness. Building owners should take advantage of this tax incentive to increase the company’s cash flow. On the other hand, Architects, engineers, […]
Busting Common Misconceptions: The Efficient Reality of §179D Site Inspections
In the realm of energy-efficient building projects, the Section §179D tax deduction is a hot topic. It offers deductions for energy-efficient improvements in commercial buildings. However, a prevalent misconception about the required site inspections for §179D qualification exists: they’re often viewed as intrusive and time-consuming for site personnel. Let’s demystify this and reveal the actual […]
Disaster Relief has Extended Some Corporate Tax Filing Deadlines
Disaster Relief has Extended Some Corporate Tax Filing Deadlines Each year, the IRS extends special tax provisions to businesses that have been disaster-impacted. These tax provisions are typically issued when the federal government has declared the business’s geographic area as a major disaster area. If your business is filing Section 179D or Section 45L […]
Case Study 8 of 8: Qualifying as a designer of energy-efficient properties
Case Study 8 of 8: Qualifying as a designer of energy-efficient properties Our final review of the IRS case studies in Memorandum AM 2018-005 wraps up our series examining eight scenarios that help clarify the confusion that can surround a successful §179D tax deduction allocation. As IRS §179D tax deduction allocations have been […]
Case Study 7 of 8: Qualifying as a designer of energy-efficient properties
Case Study 7 of 8: Qualifying as a designer of energy-efficient properties While taxpayers often first think of HVAC and building envelope improvements when considering qualifying §179D energy and power cost savings, lighting improvements can also qualify. Of the eight factual case studies the IRS released in Memorandum AM 2018-005, the seventh scenario examines […]
