179D’s energy-efficient commercial buildings deduction encourages taxpayers to upgrade specific commercial buildings. In December 2020, the Consolidated Appropriations Act of 2021, P.L. 116-260, made the §179D deduction permanent. On Aug. 16, 2022, the Inflation Reduction Act of 2022, P.L. 117-169, amended §179D. The changes apply to tax years starting after Dec. 31, 2022, and eligible … Read more

Reality: The §179D deduction is beneficial to organizations of varied sizes.  The §179D deduction has often been misconstrued as a benefit exclusively reserved for large-scale projects and institutions. However, the reality is far from this common myth.  Even though more extensive facilities may have significant cost reductions due to their size, smaller tax-exempt organizations with … Read more

One of the common misconceptions surrounding the §179D deduction is the perception that the claiming process is both intricate and uncertain. The fear of complexity often discourages organizations from exploring this avenue to reduce their tax liability.  Reality: Expert Advice and Certainty Contrary to the myth, the §179D process can be streamlined and made more … Read more

Reality: Renovations are a Game-Changer Too! The truth is that §179D is not exclusive to new constructions; it extends its benefits to renovations as well. This misconception has left many property owners unaware of the potential benefits awaiting them when making energy-efficient upgrades to their existing commercial buildings. Under §179D, property owners can qualify for … Read more