Blog Layout
Tax Incentives
Rachel Busche • October 28, 2022
What are the tax incentives for energy-efficient buildings?
As we enter the 4th quarter of 2022 and start planning for the next calendar year, there are a few tax incentives available that your business/building may qualify for.
- Designing a new building or improving an existing building to be Energy Efficient may help you meet sustainability goals that could increase your cash flow and reduce Federal Income Tax liability.
- Section 179D of the Internal Revenue Code allows a deduction of up to $1.80 per square foot for energy-efficient commercial building property (EECBP).
- Privately-Owned properties, as well as tenants who pay for and are depreciating the energy-efficient improvements placed in service as of January 1, 2006, could benefit from the 179D deduction.
- This program applies to reduce energy costs in three areas:
1) Heating, cooling, ventilation, and hot water systems (HVAC)
2) Interior lighting systems
3) Building envelope (Increase thermal value and energy-efficient membrane)
- This program applies to reduce energy costs in three areas:
- The following taxpayers are eligible to claim an energy-efficiency deduction:
1) Designers of government-owned buildings
2) Owners and tenants of commercial buildings that built or installed energy-saving improvements
3) Owners of four-story or greater residential buildings that built or installed energy-saving improvements - The 179D tax deduction is a permanent part of the tax code and doesn’t expire.
These comments for this Newsletter are provided by the experts at All Seasons Roofing to help you and should not necessarily be interpreted as the law. Please consult with your Tax Professional for all the details on Section 179D of the Internal Revenue Tax Code.
The commercial roofing industry has evolved significantly over the past decades, offering a diverse range of roofing solutions tailored to various business requirements and environmental conditions. Choosing the right roofing system has far-reaching implications, affecting not only the initial installation cost but also impacts longevity, maintenance needs, energy efficiency, and overall functionality. This comprehensive guide explores the different types of commercial roofs available today, illustrating how modern advancements have enhanced their durability and performance.
Owning a commercial building provides a stable environment for your business to thrive. However, maintaining the building is crucial for smooth operations. One common issue that can disrupt your business is a roof leak. Commercial roof leaks can do more than just inconvenience you; they can damage valuable assets critical to your business. Understanding why leaks happen and how to prevent them can reduce their impact on your property. Addressing a leaky roof quickly can save on repair costs and protect your assets in the long run.
As we find ourselves in the midst of summer, high temperatures and strong storms are becoming more frequent. These weather events can wreak havoc on commercial roofs if not properly maintained. Neglecting roof maintenance during this season can lead to leaks, damaged underlayment, and even the need for a full roof replacement. Addressing these issues promptly is essential to save money and ensure the safety of the building and its occupants. Here are some valuable tips to maintain your commercial roof and protect your investment during the summer months.
Hailstorms frequently hit the Midwest in the spring, so it's crucial to know how to identify hail damage on your flat roof. Let's review the common types of hail damage that can affect commercial roofs and then discuss the best steps to take if you discover such damage.
Learn about the longevity and benefits of PVC roofing, including insights on how long PVC roofs last, to ensure your roofing investment stands the test of time.
Installing a commercial roof hatch has many benefits, from better safety to access. Keep your building efficient and secure with a commercial roof hatch.
Discover essential insights on commercial roof installation, including material choice, maintenance, and contractor selection, for lasting performance.
Explore how low slope roofs offer efficient water drainage and space utilization without the steep incline of traditional roofs - perfect for commercial properties seeking functionality and style.
Projections indicate that by 2030, the global roofing market is expected to attain a valuation of around $156 billion. Proper roof maintenance, often overlooked by business owners, is crucial to avoid incurring significant costs and experiencing operational disruptions. There are numerous pitfalls in the domain of commercial roof maintenance, and being aware of these common errors is essential for any proactive business manager. Here's a detailed exploration of six significant commercial roof maintenance mistakes and strategies on effectively avoiding them:
TPO roofing installation typically involves mechanically fastening, fully adhering, or induction welding the membrane to the roof deck. The process includes: