Partnering with an experienced provider whose reputation for upholding ethical standards is invaluable. For years, KBKG’s knowledge and expertise have educated architects and designers on some of the most complex issues of the U.S. tax code to help them save money on taxes through the 179D Tax Deduction.
With the guidance of KBKG, architects and designers reduce their expenses on energy-efficient designs of commercial and tax-exempt buildings. Our experts are the industry’s best and remain on top of the latest modifications of this program to ensure those that qualify receive the maximum value of tax benefits they are eligible for.
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What to Look for in a Tax Consultant
Due to the intricacies of the tax law, frequently changing guidelines, and rising number of fraudulent tax consulting companies, choosing a reputable provider that stands by its work is more important than ever.
Tax professionals should have a verifiable reputation based on their integrity. Bad actors provide inaccurate information about qualifying for specific programs for personal gain. Guidance on these programs should be based on an up-to-date understanding of all the modifications to the tax code and the most current recommendations from the IRS.
A desire to obtain or retain client participation does not influence reputable tax professionals. Their focus is adhering to tax law and discovering the legal avenues available to clients in the application of tax incentives.
Experienced and trained professionals have a granular understanding of the intricacies of incentivized tax programs. They assist in determining if a business qualifies for these programs by calculating eligibility and value.
Specialized tax professionals help CPAs and businesses benefit from the tax programs available to them. They never lead clients to claim credits or deductions they are not eligible for. Look for a provider who commits to accurately guiding clients on various tax issues.
Reputable consultants safeguard sensitive personal, business, and financial information. The confidentiality of information should be their highest priority.
See If You Qualify for 179D
History of the 179D Tax Deduction
Originally part of the Energy Policy Act in 2005, the intent of the policy is to drive more clean energy and reduce consumption in commercial and tax-exempt buildings by designing more energy-efficient buildings. To encourage the design of more energy-efficient buildings, this energy saving initiative incentives building owners and designers who upgrade the building’s HVAC, interior lighting, or building envelope by rewarding them with tax savings.
The program’s success culminated in 2022, with the launch of the Inflation Reduction Act, which expanded the policy’s benefits beyond private and government-owned buildings. This means that more buildings can qualify for the deduction and more money can be claimed by owners and designers. Qualifying projects that occurred after December 31, 2005, are eligible for up to $1.88 per square foot; however, the Inflation Reduction Act increased that number to up to $5 per square foot for projects completed after January 1, 2023.
How to Claim 179D
Our multidisciplinary team will create a transparent, understanding roadmap that sets clear expectations as to how much can be claimed. By working with the in-house team of industry professionals at KBKG, those interested in claiming the 179D Tax Deduction are encouraged to contact a KBKG expert.
While individuals, companies and accounting systems are all different, KBKG understands the importance of being a client-centric firm whose primary objective is to bring value to those we serve. Our long-standing reputation for delivering quantifiable results is why businesses continually choose to partner with us – because the results stand by the values of the firm that produced them.
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