For countless businesses, the significant disruptions stemming from the COVID-19 pandemic have caused unprecedented financial challenges this year. Therefore, as 2020 comes to an end and businesses start preparing for tax season, it is crucial to seek opportunities to minimize taxes. The right tax strategy can help businesses save money and boost cash flow, thereby [...]
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 [...]
An architecture firm in Connecticut was hired by a government entity to design an 89,693 square-foot elementary school. The design, which was completed in 2020, included several energy efficiency measures in the school’s lighting, HVAC systems, and the building envelope. These measures were found to exceed the standards of ASHRAE 90.1-2007 by over 50 percent, [...]
As a CPA, helping your clients achieve their financial goals through strategic application of the tax code is an integral part of your mission. However, with frequent changes to state and federal tax law—as well as numerous tax code provisions that are often overlooked or misunderstood—it can be difficult to cut through the confusion and [...]