A BRAND NEW revision represents one of the largest deductions in the history of the U.S. Commercial Building Industry!
In past years, Commercial Building Owners were required to depreciate capital improvements over 39 years.
That has all changed which now allows up to a $1,160,000 first-year deductions for improvements like Commercial Roofs, HVAC, Windows, etc.
A BRAND NEW revision represents one of the largest deductions in the history of the U.S. Commercial Building Industry!
In past years, Commercial Building Owners were required to depreciate capital improvements over 39 years.
That has all changed which now allows up to a $1,160,000 first-year deductions for improvements like Commercial Roofs, HVAC, Windows, etc.
This includes Assessing their Income, Investments, Deductions, and Potential Tax Credits.
This includes Assessing their Income, Investments, Deductions, and Potential Tax Credits.
If you're replacing your existing roof, you can get an additional benefit by writing off the cost of your existing roof.That means the amount remaining on your books representing the original cost of your exiting roof, less accumulated depreciation, can be taken off your books as a loss. So you're not only getting a deduction for the new roof, but also lowering as a result of any loss from writing off your existing roof.
If you're replacing your existing roof, you can get an additional benefit by writing off the cost of your existing roof.That means the amount remaining on your books representing the original cost of your exiting roof, less accumulated depreciation, can be taken off your books as a loss. So you're not only getting a deduction for the new roof, but also lowering as a result of any loss from writing off your existing roof.
For example, the commercial roof still qualifies for the deduction even if it was paid for by the claim or third-party company.
THIS MEANS YOU CAN WIPEOUT UP TO $1.16M OF INCOME IN OTHER PARTS OF YOUR BUSINESS!
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Retail Buildings | Office Buildings | Industrial Warehouses | Shopping Centers