Happy New Year! And there is excellent news to share. On Friday, December 19, 2014, President Barrack Obama signed H.R. 5771 (The Tax Increase Prevention Act), which extended the Energy Efficient Commercial Building Deduction (among nearly fifty other Individual, Business and Energy Tax Extenders) for 2014. The one-year extension of these laws (a complete list can be found here), which expired on December 31, 2013, is good through December 31, 2014

What does this mean? It means that Architects, Engineers, Contractors and Energy Service Companies that worked on qualified, government-owned buildings that were placed in service between 01/01/14 and 12/31/14 will be able to claim 179D deductions on their original 2014 tax returns.

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