179D Tax Deduction for a Virginia Government Building

An energy tax certification was performed on a newly renovated Virginia educational facility following the installation of energy efficient assets. The qualifying benefit resulted in a $146,700 179D tax deduction for the reduction of total annual energy costs of interior lighting, heating, cooling, ventilation, and hot water systems by at least 50%. The 81,500 sq. ft. building qualified for the full $1.80/sq. ft. tax deduction per the Energy Policy Act guidelines. This reduction of energy costs on a government building will result in reduced tax rates for the local community.

Architects are experiencing positive effects on their businesses as a result of the 179D EPAct Tax Deduction. Although EPAct expired December 31, 2013, designers have a three year look back window where they can still benefit. Click here to learn more.

Author

Engineered Tax Services

Engineered Tax Services

Recent Posts

logistics tax strategies

Why Cost Segregation Is a Key Logistics Tax Strategy 

In the demanding world of logistics, where every cent counts, cash flow optimization is crucial. Sure, it’s essential to trim expenses and enhance efficiency, but have you ever considered that a fresh take on your tax strategy could also lead to serious savings?   This is where cost segregation enters the picture. This blog post is

Read More »
irs

What You Need to Know About IRS Notice 2023-63

The Highlights Why It Matters While this notice doesn’t overhaul the R&D tax credit system, it does provides valuable clarification for companies engaged in research and development. We want to help you fully understand these changes so you can plan accordingly. The team at ETS offers specialized consultations, R&D tax credit analyses and compliance guidance

Read More »

Contact Us