Entries by judd

New Proposed 179D Extension

Tomorrow, Tuesday, July 21 at 11:00 AM ET, a two-year extension of Section 179D is included in the base text of the tax extenders legislation to be considered by the Senate Finance Committee.  Chairman Hatch has scheduled a markup for this time, according to the SFC website. This new legislation will be providing an extension […]

Energy Efficient Buildings Tax Deduction

An energy tax incentive called Section 179D was created under the Energy Policy Act of 2005 (EPAct). This incentive is a tax deduction for energy efficient commercial buildings. The IRS Code Section 179D allows for an immediate deduction of up to $1.80 per square foot for commercial buildings that achieve a 50% reduction in total […]

179D Tax Break

The average American might be surprised to learn that commercial buildings consume approximately 70% of the electricity in this country. Awareness of the need for greener building is growing, and luckily, a little-known tax break is encouraging the building industry to produce or renovate construction that is more energy efficient. This tax break is called […]

The 179D Tax Break for Energy Efficient Commercial Building

In 2005, the Energy Policy Act was signed by President Bush and created a tax deduction for the construction of energy efficient buildings. This tax deduction is falls under Section 179D and offers energy tax incentives for owners, architects, engineers, ESCO’s and contractors of new and existing energy efficient commercial buildings. Section 179D provides tax deductions […]

Combined Tax Strategies Make Energy Efficient Upgrades More Desirable (179D Tax Deduction & Asset Retirement)

Many owners are seeing the benefit of replacing certain building components with energy efficient replacements. Also to lower energy bills, tax incentives can be combined to realize accelerated write-offs and lowering income tax bills. In 2006, Section 179D – the Energy Efficient Commercial Buildings Deduction was available to taxpayers, allowing immediate deductions up to $1.80 […]

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 […]

President Signs Tax Extenders Bill; 179D Tax Deduction officially extended for 2014

It’s official, on Friday December 19th the President signed into law the Tax Increase Prevention Act of 2014 (HR 5771). This officially extends the Section 179D Tax Deduction along with over 50 other expired incentives for individuals and businesses retroactively through the end of 2014. 179D Tax Deduction extension specifics               The Tax Increase and Prevention […]