Created to encourage commercial building owners to construct or retrofit buildings for green building incentives, IRS Section 179D is often misunderstood. The underutilized 179D deduction (also called the EPAct deduction) covers part or all of the costs to include energy-efficiency measures in one or more of the following categories:
The 179D deduction covers green building incentives for government, commercial and industrial buildings, garage structures and four-story or higher multifamily residential buildings (including dormitories).
While the 179D deduction expired on December 31, 2013, you may still claim for 2013 and retroactively for open tax years. With a deduction of up to $1.80 per square foot, 179D green building incentive has the potential to provide you with significant savings on current and past tax returns.
Your building’s performance must meet certain IRS-specified energy-savings levels, as verified using IRS-approved software and certified by an independent licensed contractor or engineer.
We offer a complete turnkey solution – verification, certification and documentation – to building owners and prime contractors, architects, engineers and other service providers who want to take advantage of this significant tax deduction.
Ready to discover the green building incentives that are available to your business? Click here to connect with a Tax Navigator at CTI and receive a free, 30-minute consultation.
High turnover rates can wreak havoc on hotels especially when they are already faced with increasing operating costs. It can be difficult for hotels to stay profitable without compromising...Read more
The R&D tax credit was founded in 1981 as part of the Economic Recovery Tax Act to help companies remain competitive. Research and development tax credits provide a dollar-for-dollar reduction in...Read more
If your company is searching for ways to increase revenue and offset costs, one solution is lowering your effective tax rate. Your tax savings strategy should take a balanced approach to reducing...Read more
Architectural and Engineering (A&E) companies can realize the benefits of the R&D tax credit if they know which research activities are eligible for the credit. Several activities that...Read more
Just as companies are looking to reduce costs and boost their bottom line, states are also finding ways to increase revenue. Most states collect income and payroll taxes from businesses (a...Read more