When it comes to getting your roof repaired or replaced, it’s hard work that has to get done correctly. A commercial roofing contractor may cost more than your favorite general contractor. This may make you reconsider and hire the cheaper option so you can save money upfront. But what about the long term?
The new tax reform bill is passing along savings to commercial building owners who make qualified real estate improvements to their properties. Formerly, commercial building owners were only allowed to expense improvements made to the interior of their buildings. Recently the new tax reform bill put into effect in 2018 allows expensing of improvements to the structural and exterior portions of non-residential buildings including roofs, HVAC systems, fire protection, alarm systems and security systems.
According to Toni Nitti, a Forbes.com contributor, “The Section 179 limitation will be increased to $1,000,000 for tax years beginning after 2017, with the phase-out beginning at $2,500,000 of qualifying assets placed in service.” To read more of Toni’s in-depth article on the tax reform click here.
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