Section 179D Deduction - Energy
Efficient Commercial Building Property
Reminder on the good news from the IRS! A tax deduction
to 'designers' of government owned buildings may qualify
for a tax refund.
Code Section 179D (4) allows a deduction for buildings
installing "qualified energy efficient
commercial building property."
Essentially the design firm takes the tax deduction
in lieu of the government project owner, who does
not pay taxes. This could provide significant tax
benefits to a design firm who has government clients
owning 'green' building projects, including public
universities and K-12 schools.
Click
here to learn more about the tax benefits of the
Sec 179 D Deduction and who is considered a 'designer'.
Please feel free to contact Cheryl Prout directly
at 716.250.6600 or at cprout@gkecpa.com
to further discuss this potential valuable tax deduction.
Who
is a designer?
IRS definition of a designer What is a Qualified Energy Efficient Commercial
Building Property?
Pending issuance of regulations, interim guidance
from the IRS establishes a process to certify the
required energy savings in order to claim the deduction
and prescribes the content of the certification and
the qualifications that must be met by the person
providing the certification.
