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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.  In the realm of tax incentives, 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 […]

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 […]