Section 179D Tax Deduction of the IRS Code allows you a federal deduction for the installation of energy efficiencies in real property.
The §179D deduction expired on December 31, 2016. However, taxpayers may still claim it for energy-efficiency projects completed during 2016. There is also a chance that this valuable provision will be renewed pursuant to bills currently under consideration by Congress. Stay tuned for the latest §179D news!
You may be eligible for a federal tax deduction of up to $1.80 per square foot for improving the energy efficiency of your existing commercial buildings. This also applies to new construction and for government and non-profit buildings.
Third-party certification is required to claim this incentive, and Capital Review Group is a leading third party certifier. Our experience has helped us to simplify the certification process and allow us to offer the most competitive fees in this professional specialty.
Energy efficiency projects can generally deliver positive ROI when incentives are applied. However, capturing all beneficial tax incentives requires that both engineering and tax strategy are performed in sync — this is where CRG adds exceptional value for our clients.
With our certification comes assurance that your energy project will achieve maximum engineering and technical performance value, and maximum benefit from incentives and financial performance.
Based on the energy efficiency attained and application of the Revenue Procedure 2011-14, an auto dealer was allowed to claim the full deduction amounting to $1.80 per s/f totaling $516,600.00 with no need to amend their tax returns.
Based on the square footage of the multiple government buildings worked on as well as the sustainable design implemented by the firm, they were ultimately entitled to deductions nearing $7,000,000 over a 5 year span.