Key Points To Consider With The 179D Tax Credit

Although the 179D tax credit is often called a credit, it actually is a deduction. This means that it can be used to reduce your taxable income for your business for the year in which it is claimed. This is very different than a tax credit that is an equal offset in the amount of taxes that are actually owed by the business.

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What’s the Process for Making a 179D Tax Deduction Claim?

A person may make a 179D tax deduction claim in relation to a piece of commercial real estate that underwent improvements to make the structure more energy efficient. It’s part of EPACT 2005, something that was put into effect when the United States Congress sought to reward people for taking steps to explore “green” alterations that could make a building be more environmentally friendly.

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