New Rules Around Business Expenses Include Important Changes that Will Save You Money
We write about air filters, funny HVAC commercials or even the benefits of ductless mini split systems in this space, but until recently, we left the subject of the IRS alone. This is an upbeat blog, remember? But for anyone watching their spend (and what successful commercial building owner doesn’t? ), new tax law as of 2018 spells big savings for those considering an upgrade to their current heating and air conditioning system. Basically, it’s such good news, we have to talk about it!
Here’s the deal. Under Section 179 of the IRS tax code with the HVAC Expensing and Technology Act, your costs for a new system or even just upgrades to your current HVAC equipment can be deducted in full the year you get them. In other words, if you purchase a brand new system in 2018, or simply improve on what you have, you can fully deduct the costs of that equipment and its installation. Under previous rules, it was only possible to deduct a small portion of the cost per year, stretching the deduction for up to 39 years into the future.
Have questions? Need to know what kind of changes you should be thinking about, or what the latest improvements are in the world of HVAC technology? Get the answers by downloading our latest White Paper here.
It’s completely free, and has real-time information that will help you not only save money but improve indoor comfort and energy efficiency for any commercial building. And that’s good news!
When it comes to your commercial building, get the HVAC experts the San Gabriel Valley trusts. Since 1969, we’ve been keeping California comfortable. Call us today! 626-357-3535.