It’s Time: HVAC Upgrades Now Qualify as Deductible Business Expenses for 2018
As we explain in our current White Paper opens in a new window, the Tax and Jobs Act of 2017 came into effect on January 1, 2018 with real savings for business owners in the form of newly allowed business expense deductions. What does this mean for you? The cost of new commercial heating and air conditioning components are now instantly deductible in full from your bottom line.
The new tax law reads:
26 U.S. Code § 179 – A taxpayer may elect to treat the cost of any section 179 property as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction for the taxable year in which the section 179 property is placed in service. Qualified Real Property includes Heating, ventilation, and air-conditioning property.
Previously, you’d have to write off their cost as a depreciated expense over a whopping 39 years. For businesses concerned about making every penny count, that’s great news. Why suffer through another hot summer with an outdated, energy wasting, or inadequate HVAC system? Now you can save real money in utility costs with newer heating and air conditioning, while writing off the entire expense of their install, labor and equipment in this current tax year.
Green Energy Translates into Lower HVAC Utility Costs
The truth is that newer HVAC systems are far superior in terms of peak performance and energy savings to their earlier counterparts. Under pressure from changing environmental regulations and climate restrictions, manufacturers have gone into overdrive to identify and implement green technologies in response.
This change to IRS tax code represents a chance for business and commercial building owners alike to save real money while improving their equipment, indoor air comfort, and energy usage profile. Have questions? Unsure what new products and systems might make the most difference in your commercial building? Talk to an Air-Tro professional today about the best ways opens in a new window to save.
Heating and Air Conditioning Investments That Pay Off
It pays to get informed. With Air-Tro, you can count on us to keep you up to date not only on all the newest green products and equipment, but the most effective ways to preserve and conserve another precious resource: your money. We’re always focused on your ROI. It’s why we’ve been the leading commercial HVAC service provider for local businesses since 1969.
For more information on this significant change to business tax law, check out our newest White Paper here opens in a new window! Call us today with any questions about this exciting money-saving news for businesses everywhere. (626)357-3535.