Walker Reid Strategies

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 […]