It’s not often you’re smiling when it comes to taxes, but something called Section 179 can put a smile on the face of business owners. We’ve told you about it before, but we want to make sure you know it’s still in effect for 2019. The Section 179 deduction covers equipment purchases that can be written off immediately.
The big news we want to make sure you’re aware of is this: Prior to congressional action in 2017, businesses had to treat commercial heating and air conditioning purchases as capital expenditures, meaning the cost had to be depreciated over 39 years. Now the costs of HVAC upgrades are included as a section 179 expense and can be written off immediately. Even better, the section 179 deduction limit was raised to $1,000,000 up from $500,000.
Climate Control Company is not your tax advisor, but please crunch the numbers with the people you depend on. We’re sure the result will confirm this is the best possible time to make HVAC improvements in your hotel, resort, condominium development, restaurant, or retail business.
This is as close to a win-win situation as you can get:
- Section 179 tax break reduces the overall cost of HVAC improvements
- You can install newer and more efficient systems
- Monthly savings on lower utility bills
- Add to the value of your commercial properties
As you read this we are on the home stretch of the ski season, but savvy business owners know this is no time to ignore their commercial heating and air conditioning systems. You understand how damaging HVAC breakdowns can be when it comes to lost business and disappointed customers. Don’t take that chance. Take advantage of your Section 179 savings to replace or make any major repairs on your systems.
Whether you are a business owner or a homeowner, you can depend on Climate Control Company for your heating and air conditioning needs in Aspen, Vail, and the surrounding area. If you haven’t already, call Climate Control right now to schedule your residential or commercial HVAC Maintenance. We will make sure your equipment is in tip-top shape. Be sure to like and follow us on Facebook and Twitter.