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Location: Green Museums Discussion Forum
Discussion: Green Building Market Report
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michaelsnugent |
Green Building Market Report
Nov 16 2008, 5:36 PM EST
November 12, 2008If your company owns or leases commercial buildings - which includes most types of buildings, including residential buildings with four or more stories above grade - and you have installed or retrofitted the property to be more energy efficient, you may be eligible for a deduction for part or all of the costs associated with the installation or retrofit. This opportunity allows for the potential immediate expensing of costs that would otherwise be capitalized and recovered through depreciation over 27.5 or 39 years. Energy Efficient Commercial Tax Deduction: If your company owns or leases commercial buildings - which includes most types of buildings, including residential buildings with four or more stories above grade - and you have installed or retrofitted the property to be more energy efficient, you may be eligible for a deduction for part or all of the costs associated with the installation or retrofit. This opportunity allows for the potential immediate expensing of costs that would otherwise be capitalized and recovered through depreciation over 27.5 or 39 years. Those Who Can Benefit From The Deduction: The person or organization that pays for construction is generally the recipient of the deduction. This is usually the building owner, but for some HVAC or lighting efficiency projects, it could be the tenant. Government-Owned Buildings: For government-owned energy-efficient commercial buildings, such as public schools, the IRS issued guidance on March 12, 2008 that allows the deduction to be allocated to the person primarily responsible for designing the property in lieu of the public entity. Components Of The “Cost” That Can Be Written Off: Includes anything that can be capitalized, including labor. See the full report here: http://sourcecorp.wordpress.com/2008/11/12/green-building-market-report/ Do you find this valuable? |
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