Learn more about potential tax deductions worth up to $1.80 per square foot, contact Green Tree Products and Technologies today
Energy Policy Act of 2005, subsection 179D
If you have built or retrofitted commercial real estate property since 12/31/05, you may be eligible for a tax deduction worth up to $1.80 per square foot. The deduction, first introduced as part of the energy Policy Act of 2005, is calculated based on the energy efficiency of a building as compared to a 2001 benchmark ASHRAE 90.1-2001. While the maximum deduction is $1.80, within this deduction there are three potential subsystem deduction worth up to 60 cents each for HVAC, lighting and lighting controls, and the building envelope. Unlike most other tax deductions, the 179 D deduction also may allow primary designers of energy efficient municipal buildings or retrofits to receive the deduction. This means that architects and engineers may have the opportunity to receive up to a $1.80 per square foot tax deduction for municipal design projects.
Candidates
Buildings which meet the following criteria are well positioned to qualify for substantial tax deductions through 179 C and the application of energy tax studies.
• Commercial and Municipal Buildings placed in service since 12/31/05
• Buildings retrofitted since 12/31/05
• LEED Buildings
• Architects and Engineers involved with municipal projects placed in service since 12/31/05
Process
Our studies begin with our engineering and tax professionals completing a complimentary feasibility study on your property. The feasibility study allows us to determine the approximate overall tax benefit that will be produced by completing an energy tax study. Once we have determined that the application of the Green Tree Products and Technologies energy tax study, for your building, will be of benefit, we begin a streamlined process that allows for the client and their advisors to interact with our specialists along every step of the project.
• Feasibility Study
• Engagement
• Engineering/Tax Analysis
• Site Visit
• Final Report Delivery
Form of Allocation
In order to qualify for this deduction, the IRS requires an independent engineering analysis of the building or sub systems that are eligible for the Section 179 D tax deduction. We provide the analysis, project management, and support necessary for commercial property owners to claim this substantial tax deduction for their properties.
In Conclusion
If you have built or retrofitted commercial real estate since 12/31/05 and have not completed an energy tax study on your building you are potentially leaving substantial tax savings on the table. Recently passed tax law allows for these deductions to be carried back up to five years, allowing for owners to amend their previous returns and enjoy tax savings today. Green Tree Products and Technologies is well positioned to provide the third party analysis and documentation necessary for building owners to receive this deduction nationwide.
