Over the past few weeks, there have been lots of activity on The Hill with regards to tax extenders. On April 3, 2014 the Senate Finance Committee concluded its markup of a tax extenders package. The Section 179D Tax Deduction (including some modifications) was included in the markup through 2015, fully outlined in the Moorcroft […]
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Prior to the introduction of IRS Section 179, a company was forced into depreciating its capital expenditures over a number of years, a Section 179 tax deduction allowed for a 100 percent write-off of the asset in the same tax year that it was acquired, all of which was subjected to certain limitations. Most small […]
In 1982, the IRS tax code initiated a provision for first-year write-downs on the purchase of most personal property being used in a trade or business. This allowed operating companies to take advantage of an IRS Section 179 deduction on their business tax returns. In 1982 when Section 179 was implemented, the allowable tax deduction […]
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 […]
To share the 179D Tax Deduction?… or…. Not to share the 179D Tax Deduction? This is a common question that arises when we look at 179D Tax Deduction for Architects, Engineers, ESCO’s, Contractors and other designers of energy efficient government-owned buildings. Though it is a common practice to share the 179D Tax Deduction amongst multiple designers […]
As the end of 2013 approaches and more importantly the 179D Tax Deduction, we feel that it is important for everyone to have a good gauge on what has happened and what we expect to happen on Capitol Hill as far as the life of the 179D Tax Deduction is concerned. Walker Reid Strategies has […]
As 2013 comes to an end it appears that the expiration of the EPAct 179D Tax Deduction is inevitable, The question that I hear quite often is “Will the 179D Tax Deduction be extended in 2014?” Of course, this question has been posed to us in many different ways… some rather amusing, others a bit […]