The recently passed Inflation Reduction Act (“IRA”) on the 179D deduction is incredibly important and lucrative new legislation for the Real Estate and Construction industry. The 179D is a tax deduction to incentivize builders and building designers to create energy-efficient commercial buildings. The IRA increased the maximum tax deduction from $1.80 per square foot to $5.00 per square foot.
Mark Cooter, Cherry Bekaert’s Real Estate and Construction Practice Leader, invites Ron Wainwright, Strategic Tax Partner and Leader of the Firm’s Energy Practice within the Tax Credits and Incentives Advisory group, and Bill Harbeson, a manager at Cherry Bekaert, to discuss the impacts of this legislation as well as how to qualify and what to look for in a 179D provider to take advantage of this beneficial tax deduction.
The Podcast Covers:
- Introduction to 179D
- New Updates to 179D with the Inflation Reduction Act of 2022
- How to Qualify for 179D
- What does a taxpayer need to look for in a 179D provider?
Subscribe today for further information from Cherry Bekaert on the different benefits and tax credits the real estate and construction companies can qualify for and receive.
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