Parking Garage Lighting Retrofit Resulted in 179D & Disposition Tax Benefit – New Orleans, Louisiana

An energy tax certification was performed on a renovated parking garage facility placed into service in 2013 following the installation of energy efficient lighting. This facility qualified for the full lighting benefit of $0.60/sq. ft. resulting in a $156,000 179D Tax Deduction.

In conjunction with the 179D tax benefit, Engineered Tax Services was able to recognize an abandonment/disposition savings. ETS was able to determine and identify the cost basis for the removal of the old lighting system removed and destroyed for federal income tax purposes. The remaining un-depreciated basis was found to be $94.259.

Author

Engineered Tax Services

Engineered Tax Services

Recent Posts

Establishing Your Accounting Firm On Social Media

Establishing your accounting firm’s voice on social media should be a top priority. If your firm doesn’t have a brand guide that includes its tone of voice, now is the perfect time to create one. It doesn’t have to be a full-blown brand guide⁠—just something that helps to establish and maintain a consistent brand voice.

Read More »
employee retention tax credit scams

How to avoid employee retention tax credit scams

A survey by the National Federation of Independent Business (NFIB) found that only 4% of small business owners are “very familiar” with the Employee Retention Tax Credit program. Furthermore, only 32% said they were “somewhat familiar” with the incentive. Scammers are taking advantage of this unfamiliarity to collect high fees from business owners. Unscrupulous companies

Read More »
accounting firms

Tips for Accounting Firms looking to get started on Social Media

Getting started on social media can be confusing and hard to understand. Especially for accounting firms that keep putting it off. Yet it truly is not as bad as it seems. Trust me. I manage over 20 social accounts, many of which I created from scratch. With the busy season behind us, now is the

Read More »

Contact Us