Energy Efficiency Deduction is Back on the Table

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Energy Efficiency Deduction
is Back on the Table

The recently passed Bipartisan Budget Act of 2018 not only funds the federal government for the next two years, it also includes a one-year retroactive extension of the Energy Efficient Commercial Building deduction (Section 179D). This is good news for commercial property owners, as this deduction can now be applied to 2017 tax returns for eligible projects.

Commercial buildings which were constructed or renovated to include energy efficient equipment, primarily lighting or HVAC systems, are potentially eligible for a tax deduction up to $1.80 per square foot under the extended Energy Policy Act of 2005. This deduction may also be available to the primary designers of government buildings.

With this retroactive extension, any commercial building built or renovated during 2017 may be eligible for this deduction. The application of this deduction can be complicated. For additional information or guidance, please contact Gray, Gray & Gray at (781) 407-0300.

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