Be Prepared To File Your Section 179 Tax Credit

As a commercial property owner, either as the person the built the facility or the current owner at the time of renovations or retrofit, you have the option to file for a Section 179 tax credit, often referred to as a 179D tax credit.

While the actual filing can only occur after a full analysis by an independent, approved third party, there are some things that you can do initially in preparation even before you contact the professionals that are going to provide certification for your building.

Know Your Building

Most of the top companies offering services to assist in obtaining your Section 179 tax credit will provide a free no-obligation feasibility study. This allows you to know what you can expect and which of the three subsystems and, if you are still in the planning stages of the building, allows their professionals to work with your architects and contractors to ensure you maximize your options.

You will need to have information on your square footage, as a total, information about the HVAC system, the types of interior lights you use, as well as specific information about the building shell, which is known as the envelope. This includes the R-value of roof insulation and insulation in the walls as well as information about the type of windows installed.

Get Your Plans

You should have access to and recent copies of all your plans and specs for the building. This includes any modifications that have been made to any of the three systems, lighting, building envelope or HVAC, since original construction.

Many times add-ons, upgrades or renovations have been completed prior to a current building owner taking ownership. If possible contacting the previous owner can be helpful in establishing what, if any, major changes were made.

If you have these materials and this information on hand before you contact the company providing your certification for your Section 179 tax credit you can help in speeding up the process and finding out if your building is a good candidate for the tax credit.

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