When Section 179 was introduced as part of the Energy Policy Act of 2005, many commercial property owners were delighted to find that they were given the chance to enjoy new tax deductions when they took the time to make their commercial property more energy efficient. With things like energy efficient HVAC systems and lighting, many commercial properties have been able to enjoy outstanding tax deduction benefits. These benefits have helped many companies both small and large not only do their part to be more environmentally aware by using less energy, but to help save themselves more money and to help put more money back into their business.
While Section 179 has undoubtedly helped many property owners, it can also be confusing to some who have yet to fully understand how the Section 179 Expense Deductions work. This is normal as Section 179 actually comes with a number of limitations and number of rules that govern how it works. For example, a tax deduction of up to $1.80 per square foot is possible for any commercial property owner or developer thanks to Section 179 Expense Deductions. However, there are not only limitations with the overall amount you are able to deduct but with different types of deductions as well. With Section 179 Expense Deductions when you are deducting lighting you can save up to only $0.60 per square foot for a 25% reduction. There are similar limitations put on envelopes and HVAC systems.
With this in mind it can be hard to understand all of the ins and outs of Section 179 Expense Deductions. This is why many people need the help of professionals who truly understand the Section 179 Expense Deduction process. For business owners who are looking for this type of assistance, they will want to turn to a company that specializes in doing the certifications and inspections for those who want to qualify for a Section 179 Expense Deduction.
These companies are certified by the IRS to do the inspections and fill out the paperwork that will state how energy efficient a commercial property is so that commercial property owners can start getting the benefits that they are looking for with their deductions to cover the expenses involved in making their property more energy efficient. These are the people you need to turn to not only for the filing process and to get the official inspection you need to legally qualify but to get the answers to any questions you may have about your expense deductions.
Visit Walker Reid today online at walkerreid.com to find out more about IRS Section 179 Expense Deductions. With their help you can get the information that you need and insight on how to get started with the inspection process that will leave you with the deductions you deserve.