The Internal Revenue Service (IRS) has issued guidance that can enable architects and other designers to claim a tax deduction for certain energy-efficient features in government-owned buildings.
The guidance relates to the energy-efficient commercial buildings tax deduction, enacted in the Energy Policy Act of 2005, which allows taxpayers to deduct the cost of energy-efficient equipment installed in commercial buildings they own.
The law allows the designer of the energy-saving portions of a publicly owned building (such as the building envelope, HVAC system, or lighting) to receive the tax deduction, since government agencies have no tax liability and therefore cannot take advantage of the deduction.
“A designer may include, for example, an architect, engineer, contractor, environmental consultant, or energy services provider who creates the technical specifications for a new building or an addition to an existing building that incorporates energy-efficient commercial building property.”
CPAs, public officials, architects, builders, and building owners are realizing that available Federal tax deductions can help pay for green buildings (Click Here For Article).
To see if your property qualifies and for your FREE initial analysis of your potential benefit so that you know in advance what your benefit will look like, click the following link:
FREE Green Building Tax Deduction Analysis
The green movement is much more than a fad. Cities are mandating more efficient buildings and even large tenants are beginning to demand improvements that will reduce their operating costs. The federal tax deduction can help offset some of the green building cost.
If you are involved in the green building process from accounting and architecture to development and ownership, this can be a valuable benefit that should not be overlooked.
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Celebrating our 25th year in business, SourceCorp specializes in Green Building Tax Deductions, LIFO Accounting, R&D Tax Credit Studies, and Cost Segregation Studies. With a team of nearly 70 professionals and with offices located throughout the country, SourceCorp helps clients realize unparalleled experience, services, and trust. SourceCorp serves many of the nation’s most prominent CPA firms, Associations, and Fortune 1000 companies. For more information, please call 817.732.5494 or visit www.SourceCorpTax.com.
August 14, 2008 at 1:34 pm |
[...] Architects can take tax deduction for green public buildings [...]
August 18, 2008 at 12:22 pm |
[...] Architects Can Take Tax Deduction For Green Public Buildings The Internal Revenue Service (IRS) has issued guidance that can enable architects and other designers to claim a tax deduction for certain energy-efficient features in government-owned buildings. [...]
September 1, 2008 at 4:09 pm |
[...] Architects Can Take Tax Deduction For Green Public Buildings [...]