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The section 179 tax deduction is meant to help business owners offset the costs of implementing energy-efficient lighting, heating, cooling and building envelope. The government recognizes the investment that is required of businesses and wants to encourage business owners to take part. As long as businesses use a reputable company that is authorized to certify the buildings and qualify them for the deduction, they can realize immense savings. The most important factor is consulting with a reputable certification company before getting started. Reduce Taxable Income Depending on the size of your buildings and projects, your tax deduction could be quite large, enabling your business to greatly reduce their taxable income. Large companies that have multiple buildings have been known to reap a couple million dollar tax deduction, lowering their taxable income tremendously, which for many businesses is a blessing in disguise. Businesses can choose to reap the savings or use the savings on another area that needs improving. Help with Payments A section 179 tax deduction can help businesses pay back their financing for eco-friendly projects much faster. Certain facilities that had more than 1-million dollars in tax deductions have been able to use that money to pay their loans down much faster. The combination of tax deductions, faster loan payback and utility bill reductions can help businesses of all sizes see a return on their investment in a short period of time. Make Greater Enhancements Many new buildings or offices that are already embracing the latest technology to offer energy efficiency in their building are able to afford even greater enhancements when they qualify for the tax deduction. This allows building owners to make a few enhancements they would otherwise have to go without or risk going over their building budget. The section 179 tax deduction is a great way for companies to take advantage of the latest technology that allows them to become more energy efficient. The benefits building owners receive aside from the good feelings of becoming energy efficient is the savings that are realized. With lower taxable income, ease in paying loans back faster and the ability to make even more enhancements to increase the level of eco-friendliness at a business, the benefits are numerous. All businesses have the ability to qualify and should start by consulting with a certification firm to see where they stand. For more information about the section 179 tax deduction, visit the website of Walker Reid Strategies.
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