Are you looking to improve your building’s comfort, ventilation and efficiency?
If you are considering upgrading your facility’s HVAC system, you should be aware of tax breaks that may be available for your business.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed by Congress in March aims to provide relief to businesses and individuals negatively impacted by the COVID-19 pandemic. The CARES Act does not only contain loans and employment benefits. It also contains several tax saving benefits for businesses.
Under the tax code, the cost of HVAC system equipment and components may be fully deducted for tax purposes in the first year it is placed into service.
To learn more, review this document as it provides more details into the tax breaks.
This time might be the best time to consider upgrading your HVAC equipment as your facilities have limited or no occupancy, for instance. Additionally, these tax breaks provide a financial incentive to invest during these difficult times.
Take advantage of these unprecedented times and make the most out of them!
Contact us to learn more.