In 2005, Congress passed the Energy Policy Act. The law created a tax incentive tied to the design or installation of energy-efficient interior lighting, HVAC, hot water or building envelope systems in commercial buildings. Section 179D of the Internal Revenue Code still allows qualifying businesses to deduct up to $1.80 per square foot for eligible projects placed into service between 2006 and 2016.
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Topics: 179D, Construction, Tax, tax deductions, Uncategorized
Rental property owners should be aware of two regulations that can help them increase tax deductions on their 1040 tax forms. Provisions under the tangible property regulations and the small taxpayer safe harbor each offer attractive benefits.
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Topics: real estate, rental property, tax deductions, Uncategorized