|CGE Lighting Services has been providing Southeast Michigan with commercial lighting services since 1989. We offer interior and exterior lighting services, and specialize in everything from Cree® LED lighting system installation to lighting maintenance and repair.|
Obama Signs New Tax Act Extending 179D
On December 19, President Obama signed the Tax Increase Prevention Act, which contains extenders of 50+ tax relief provisions.
Of particular interest in the lighting industry is a one-year extension of 179D, the Commercial Buildings Tax Deduction. This is an accelerated tax deduction rewarding investment in energy-efficient building property, notably interior lighting systems.
The law specifically states that the 179D deduction is extended through December 31, 2014. So the extension has already expired. That’s not good news for new business in 2015, but it means qualifying projects completed in 2014 can claim the deduction.
Your tax advisor can apply for the deduction if you upgraded your lighting in 2014.