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 […]
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 […]
How To Maximize 179D Benefits
If you are a business owner or professional contractor/engineer, you are aware of the high cost that taxes can incur on your business proceeds. Many legal provisions provide for tax cuts. The Energy Policy Act (2005), Section 179D, consists of a provision for tax deduction applicable to energy efficiency modifications to commercial buildings. Under this […]
Get a tax deduction for an energy efficient building
The energy efficient commercial building tax deduction system, otherwise known as EPACT 179D was created by the IRS as a way to reward the owners and lessees of commercial buildings who invested to comply with higher standards of energy efficiency. If a building has been upgraded to conform to new standards in interior lighting, HVAC […]
