New Tax Code Benefits Building Owners, Potentially Millions Saved in HVACBilly Pell
There’s been a lot of buzz about the new tax code changes that were signed into law at the end of 2017.
In a previous blog post, we published a tax code 101 for understanding new tax savings for small businesses on HVAC equipment. The changes also impact building owners and contractors in the commercial HVAC industry.
Recently, the Alliance to Save Energy (ASE) published an interesting article that points to potentially millions of dollars saved by building owners who make HVAC capital investments under the new tax code. You can read the full article here.
In the article, industry expert Jeff Moe, Director of Global Product Advocacy at Ingersoll Rand’s Center for Energy Efficiency and Sustainability, explains, “Historically, HVAC system capital investments have been depreciated over a timeline up to 35 years, depending on a building owner’s specific tax situation. The new tax law now allows HVAC system investments made after December 31, 2017 to be fully expensed (for investments up to $1,000,000/building).”
The HVAC industry is already seeing potential growth opportunities through tax changes too. Earlier this week, we noted the geothermal 2018 trends (fun fact: they are synergistic with Aeroseal duct sealing) that relate to the recent news coverage about geothermal tax credits. A recent article in the ACHR News also details how the HVAC Industry, on both the residential and commercial side, is perparing to take advantage of the reinstated geothermal tax credits. Read the entire article here.
Tax expert and CPA Craig Cody just spoke live in an Aeroseal-sponsored webinar this week too about how the new tax plan will impact businesses. It was a very insightful presentation. You can watch it on-demand here. It shares some potentially overlooked tax savings benefits related to Aeroseal duct sealing for your business.
Are you a contractor? We’d love chat with you about these overlooked tax savings benefits related to Aeroseal for your business. Call us 877-349-3828, email us, or leave a comment below.
Are you a business owner? Find a commercial Aeroseal service provider near you to see how you could saving money from upgrading your company’s HVAC equipment in 2018 and ensuring you get the maximum system performance from it by sealing the duct system supporting your HVAC equipment with Aeroseal duct sealing.