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 […]
Up to the Minute 179D Tax Deduction Legislative Update: House Passes Tax Extenders Package
The House just passed a one-year extension of the tax extenders package. The Tax Increase Prevention Act (HR 5771) was introduced by GOP leaders late on December 1, 2014 and was just passed by the house on 12/3/2014. Once adopted by the Senate and signed into law the House bill will extend the now-expired […]
179D Tax Deduction and tax extenders during Lame Duck
A message to our clients and interested parties regarding the extension of 179D Tax Deduction As we approach the end of 2014 with Tax extenders still in limbo, we see the same question asked over and over again…is Congress going to get a Tax Extenders Bill done? Currently the real answer is that no one […]
Becoming Familiar With 179D Tax Deduction
For many, understanding how to manage specialty tax incentives can be difficult which is why there are tax specialists such as Walker Reid who aim to help educate the business community about the benefits of specialty tax incentives like the 179D Tax Deduction. With Walker Reid, we specialize in 179D Tax Deduction, which became part […]
Business Owners Can Be Optimistic About 179D Tax Deductions
Even though maximal deductions of the past 179 tax section were more than double than what they are now business taxpayers can still be hopeful towards a future extension. For those who did not already know, section 179 of the tax code serves business taxpayers who are currently deducting approved equity throughout the tax year, […]
179D Tax Deduction Status and Extension Update
With the proposed extension of Section 179D Tax Deduction in the EXPIRE Act currently blocked in the Senate by a battle over the allowance of amendments, we look at the house for possible action. Chairman Camp of the House Ways and Means Committee has implemented an approach different than the extenders bill proposed in the Senate. His […]
Can lighting retrofits in unconditioned facilities qualify for a full 179D Tax Deduction ( $1.80/SF Deduction)?
With the increasingly modern improvements of Lighting Retrofits to Warehouse/Distribution and Manufacturing facilities, many are aware that a year one deduction of up to $0.60/SF may be available through the EPAct 179D Incentive. This method of qualification is typically done under the IRS’s “Interim Rule.” Many are not aware that in retrofits with aggressive power […]
179D Tax Deduction for Architects, Engineers, ESCO’s: To Share or Not To Share?
To share the 179D Tax Deduction?… or…. Not to share the 179D Tax Deduction? This is a common question that arises when we look at 179D Tax Deduction for Architects, Engineers, ESCO’s, Contractors and other designers of energy efficient government-owned buildings. Though it is a common practice to share the 179D Tax Deduction amongst multiple designers […]
179D Tax Deduction Legislative Update
As the end of 2013 approaches and more importantly the 179D Tax Deduction, we feel that it is important for everyone to have a good gauge on what has happened and what we expect to happen on Capitol Hill as far as the life of the 179D Tax Deduction is concerned. Walker Reid Strategies has […]
