What is the 179d tax deduction?
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The 179d or Commercial Building Tax Deduction is a federal subsidy program aimed at helping building owners make energy efficient upgrades to their facilities or construct new buildings that use less energy. Additionally the program rewards design firms and contractors who specify energy efficient measures by providing them tax breaks on public building projects that they have completed. The amount of the deduction is substantial, up to $1.80 per square foot, and the process to qualify is quick and simple.
179d Energy Efficient Tax Deduction
THE ENERGY POLICY ACT (EPAct)
OF 2005 ENACTED THE 179D COMMERCIAL BUILDING ENERGY EFFICIENT TAX DEDUCTION
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building owners
Building owners take accelerated depreciation on all the cost associated with installing energy efficient equipment. This is for any new construction or renovation put into operation after January 1st, 2006
design firms
Architectural, mechanical, electrical, lightng design firms and even contractors that specify energy efficient technologies in public projects qualify for the 179d incentive for all buildings put into operation within the past 3 years