The 179D Energy Efficient Commercial Building Deduction provides a tax incentive of up to $1.80 per square foot of commercial buildings. The deduction applies to the design and installation of energy efficient systems, such as HVAC, Lighting, and Envelope systems. The 179D is available to building owners as well as the designers and builders of government owned buildings.
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Many owners, officers, and CPAs of engineering firms are unaware that they are eligible for valuable federal and state Research & Development (R&D) Tax Credits. However, due to the expansive definition of R&D for tax credit purposes, many of the design and engineering activities performed by engineering firms during the Schematic Design, Design Development, and Construction Documentation phases often qualify for such treatment.
Example of Qualified Activities
Engineering Firm Case Study
|Item||Average Annual Amount|
|Qualified Research Expenses (QREs)||$900,000|
|Net Federal Credits||$49,500|
|Net State Credits||$27,500|
|Total Net Federal and State Credits||$77,000|