The Energy Policy Act of 2005 provides tax benefits to encourage commercial building lessees, owners, and designers to incorporate “green” technologies into commercial buildings. This incentive allows for an immediate expense of energy efficient lighting, HVAC, hot water, or building envelope property in the year it was placed in service.

Capped at $1.80 per square foot, this deduction is even more powerful for architects that design “green” buildings for federal, state, or local government use. Qualifying architecture firms receive the same expense capability in lieu of the government entity that owns the building.

Qualifying properties must be installed on or in a commercial building in the United States and within the scope of ASHRAE standard 90.1-2001. Building owners, lessees, or designers must obtain certification that the property satisfies the energy and power reduction requirements. Qualified software must be used to calculate energy and power consumption for the certification.

alliantgroup has partnered with engineers across the country to assist CPAs and their clients in obtaining certification for qualifying property, assess potential benefits, and obtain the maximum amount of tax savings for this unique strategy.

These tax savings are only currently available for property placed in service between January 1, 2006 and December 31, 2008.

Contact alliantgroup today to learn more and obtain the maximum amount of tax savings available to the client.