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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Buying a commercial building is a major investment that carries several ongoing costs associated with owning and maintaining the building. Fortunately, however, the federal tax code offers a variety of strategies to help offset these costs by reducing your tax burden. For example, the §179D deduction (which was recently made a permanent part of the [...]
After months of deliberation, Congress passed a sweeping new $900 billion COVID relief bill on December 21. The bill, officially called the Consolidated Appropriations Act 2021, H.R. 133, was signed into law by President Trump on December 27, thereby enacting numerous measures designed to provide financial assistance for individuals and businesses impacted by the ongoing [...]
As the year enters its fourth quarter, an important deadline is looming for commercial building owners and designers seeking opportunities to minimize their tax burdens: the §179D deduction for energy-efficient buildings is currently due to expire on December 31, 2020. As one of the “tax extenders”—a group of temporary tax incentives that are only authorized [...]
A structural engineering firm was hired by the State of Washington to design three new schools, which totaled an estimated 281,558 square feet. The designs incorporated several energy efficiency measures in the lighting systems, HVAC systems, and the building envelope. These measures exceeded ASHRAE Standard 90.1-2007, indicating that the buildings met the latest widely accepted [...]