Unlock Tax Savings with These Business Building Deductions

ARTICLE | December 06, 2024

Authored by Vasquez + Company

As businesses return to in-office work, many are upgrading facilities or acquiring new properties to adapt to evolving needs. The article "7 Tax Breaks for Business Buildings" explores common tax-saving opportunities available for building-related expenditures, ranging from depreciation and energy-efficient upgrades to ADA compliance and repair deductions.

Key Points:

• MACRS Deductions: Accelerated depreciation for personal property components of buildings.
• Energy-Efficiency Breaks: Incentives for renewable energy systems and energy-efficient improvements.
• ADA Accessibility: Tax credits and deductions for removing barriers and accommodating disabled individuals.
• Repairs and Maintenance: Safe harbor rules for deducting minor repair expenses.
• Landscaping and Signage: Opportunities for deductions based on specific usage or improvements.

By understanding these tax benefits, businesses can strategically manage building expenses while maximizing savings.

For more information, read the full article here.

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