Understanding the Alternative Deduction Path for Building Retrofits Under 179D

Since its creation under the Energy Policy Act (EPAct) of 2005, the §179D deduction has enabled countless building owners and designers to reduce their tax burdens while incentivizing the installation of energy-saving measures in buildings across the U.S. The deduction has been modified several times over the years, and was most recently expanded by [...]

By |2024-02-07T00:01:54-07:00February 7th, 2024|179D|Comments Off on Understanding the Alternative Deduction Path for Building Retrofits Under 179D

IRS Updates Applicable Reference Standards Under 179D Deduction

When the Inflation Reduction Act (IRA) was signed into law last year, it brought several welcome changes to the §179D deduction for energy-efficient commercial buildings. For example, the new law raised the maximum deduction amount from $1.88 to $5 per square foot, lowered the threshold for qualifying energy efficiency measures, and allowed new categories [...]

By |2023-02-03T00:50:59-07:00February 3rd, 2023|179D|Comments Off on IRS Updates Applicable Reference Standards Under 179D Deduction

Inflation Reduction Act Significantly Expands 179D Deduction

For proponents of the §179D deduction for energy-efficient commercial buildings, the past two years have yielded some major victories. After being made a permanent part of the tax code in December 2020, the deduction has now been significantly expanded by the Inflation Reduction Act of 2022. Signed into law by President Biden on August [...]

By |2022-09-10T01:44:51-07:00September 10th, 2022|179D|Comments Off on Inflation Reduction Act Significantly Expands 179D Deduction

What is the §179D Deduction?

From utilities to taxes to maintenance, owning a commercial building carries numerous costs. Fortunately, the federal tax code features several incentives to help offset these costs, including the §179D deduction. Created under the Energy Policy Act (EPAct) of 2005 with a goal of reducing energy consumption in buildings across the U.S., the deduction is [...]

By |2022-09-13T12:22:11-07:00July 20th, 2022|179D, Commercial Buildings|Comments Off on What is the §179D Deduction?

What Employers Should Know About the Employee Retention Tax Credit (ERTC)

As the COVID-19 pandemic and related shutdowns began having a detrimental impact on businesses in 2020, many made the difficult decision to lay off employees, either temporarily or permanently. However, as a way to incentivize businesses to keep employees on the payroll despite uncertain economic conditions, the federal government created a powerful mechanism for financial [...]

By |2022-06-02T14:32:27-07:00June 2nd, 2022|Employee Retention Tax Credit|Comments Off on What Employers Should Know About the Employee Retention Tax Credit (ERTC)

3 Key Tax Savings Opportunities for Cannabis Companies

With the medical use of cannabis products now legal in 37 states and nonmedical (recreational) use legal in 18 states and the District of Columbia, the fast-growing, multibillion-dollar cannabis industry is poised to continue expanding in the coming years. However, since THC, the psychoactive compound in marijuana, remains illegal at the federal level as a [...]

By |2022-02-17T11:11:06-07:00February 17th, 2022|Uncategorized|Comments Off on 3 Key Tax Savings Opportunities for Cannabis Companies

New and Pending Legislation May Offer Expanded §179D Opportunities

Since its creation under the Energy Policy Act (EPAct) of 2005, the §179D deduction for energy-efficient commercial buildings has undergone a variety of changes—most recently, its long-awaited addition as a permanent part of the tax code in December 2020. After years of frequent expiration and renewal as a tax extender, this was a welcome change [...]

By |2021-12-14T09:36:15-07:00December 14th, 2021|179D, Architects and Engineers, News|Comments Off on New and Pending Legislation May Offer Expanded §179D Opportunities

Key Tax Savings Opportunities for Architects and Engineers

From green building initiatives to creating designs that improve cost efficiency, architects and engineers routinely develop solutions that can enhance quality of life for both their clients and society as a whole. But as they pursue these groundbreaking activities, many architecture and engineering firms overlook the powerful opportunities for tax savings available to them. Specifically, [...]

By |2021-09-22T12:26:59-07:00September 22nd, 2021|Architects and Engineers|Comments Off on Key Tax Savings Opportunities for Architects and Engineers

Businesses in These 6 Industries May Be Overlooking the R&D Tax Credit

Created with the goal of fostering innovation and technological advancement in the U.S., the Research and Development (R&D) Tax Credit—also known as the Research and Experimentation (R&E) Credit or the credit for increasing research activities—saves businesses billions of dollars each year. However, the majority of those savings are claimed by large corporations, with many smaller [...]

By |2021-07-16T20:59:07-07:00July 16th, 2021|R&D Tax Credit|Comments Off on Businesses in These 6 Industries May Be Overlooking the R&D Tax Credit

179D Projects Must Now Comply with More Stringent ASHRAE Standards—Will Yours Qualify?

With the enactment of a massive COVID relief spending package in December 2020, the §179D deduction for energy-efficient commercial buildings was finally made a permanent part of the tax code. After years of uncertainty due to the deduction’s previous status as a tax extender, this change was widely celebrated by building owners, primary designers, and [...]

By |2021-05-17T10:54:43-07:00May 17th, 2021|179D, Architects and Engineers, Commercial Buildings|Comments Off on 179D Projects Must Now Comply with More Stringent ASHRAE Standards—Will Yours Qualify?
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