Becoming Familiar With 179D Tax Deduction
For many, understanding how to manage specialty tax incentives can be difficult which is why there are tax specialists such as Walker Reid who aim to help educate the business community about the benefits of specialty tax incentives like the 179D Tax Deduction. With Walker Reid, we specialize in 179D Tax Deduction, which became part […]
Business Owners Can Be Optimistic About 179D Tax Deductions
Even though maximal deductions of the past 179 tax section were more than double than what they are now business taxpayers can still be hopeful towards a future extension. For those who did not already know, section 179 of the tax code serves business taxpayers who are currently deducting approved equity throughout the tax year, […]
179D Tax Deduction Status and Extension Update
With the proposed extension of Section 179D Tax Deduction in the EXPIRE Act currently blocked in the Senate by a battle over the allowance of amendments, we look at the house for possible action. Chairman Camp of the House Ways and Means Committee has implemented an approach different than the extenders bill proposed in the Senate. His […]
Can lighting retrofits in unconditioned facilities qualify for a full 179D Tax Deduction ( $1.80/SF Deduction)?
With the increasingly modern improvements of Lighting Retrofits to Warehouse/Distribution and Manufacturing facilities, many are aware that a year one deduction of up to $0.60/SF may be available through the EPAct 179D Incentive. This method of qualification is typically done under the IRS’s “Interim Rule.” Many are not aware that in retrofits with aggressive power […]
New 179D Tax Deduction preferred provider in CPAmerica
In a press release by CPAmerica this week, Walker Reid Strategies was welcomed as a new preferred provider to the organization, providing 179D Tax Deduction services as well as 45L Energy Efficient Home Tax Credit services. We are excited to be a part of such a great organization and are looking forward to a great […]
179D Tax Deduction included in Tax Extenders Markup by Senate Finance Committee
Over the past few weeks, there have been lots of activity on The Hill with regards to tax extenders. On April 3, 2014 the Senate Finance Committee concluded its markup of a tax extenders package. The Section 179D Tax Deduction (including some modifications) was included in the markup through 2015, fully outlined in the Moorcroft […]
The Rules and Limits on Section 179 Deductions
Prior to the introduction of IRS Section 179, a company was forced into depreciating its capital expenditures over a number of years, a Section 179 tax deduction allowed for a 100 percent write-off of the asset in the same tax year that it was acquired, all of which was subjected to certain limitations. Most small […]
Changes afoot for 2014 business tax returns
In 1982, the IRS tax code initiated a provision for first-year write-downs on the purchase of most personal property being used in a trade or business. This allowed operating companies to take advantage of an IRS Section 179 deduction on their business tax returns. In 1982 when Section 179 was implemented, the allowable tax deduction […]
Get a tax deduction for an energy efficient building
The energy efficient commercial building tax deduction system, otherwise known as EPACT 179D was created by the IRS as a way to reward the owners and lessees of commercial buildings who invested to comply with higher standards of energy efficiency. If a building has been upgraded to conform to new standards in interior lighting, HVAC […]
179D Tax Deduction for Architects, Engineers, ESCO’s: To Share or Not To Share?
To share the 179D Tax Deduction?… or…. Not to share the 179D Tax Deduction? This is a common question that arises when we look at 179D Tax Deduction for Architects, Engineers, ESCO’s, Contractors and other designers of energy efficient government-owned buildings. Though it is a common practice to share the 179D Tax Deduction amongst multiple designers […]
