Why Every Business Owner Should Know about 179D Tax Deductions
If you’re a building owner, architect, engineer or contractor, going green can save you some tax dollars. The federal government has an interest in encouraging the construction of energy-efficient buildings since buildings are some of the biggest consumers of energy around. Since 2006, the government has been using the tax code to incentivize efficient building […]
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 […]
Catching up on Missed 179D Tax Deductions
In 2005, Congress created the Section 179D Energy Efficient Commercial Building Deduction. Taxpayers who placed in service building components exceeding certain efficiency standards between 2006 and 2013 were eligible for a $0.60 to $1.80 per square foot tax deduction. If an eligible taxpayer did not take advantage of the 179D deduction in the year they […]
Retro-Active 179D Extension Provides New Opportunities
Since the Tax Increase Prevention Act of 2014 was signed into Law at the end of 2014, companies are finding themselves against the wall trying to begin and complete 179D certifications before tax filing deadlines. Instead, many companies have decided to file extensions to complete correctly and receive the full benefits available by the 179D […]
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 […]
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 […]
