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Federal Tax Incentives

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The Tax Cuts and Jobs Act (TCJA) signed into law on December 22, 2017 included important changes to the U.S. tax code providing incentives for nonresidential commercial property improvements.  These incentives are a provision of the new law to produce long-term economic growth by encouraging business to make capital investments.

Generally, the costs of qualified commercial property improvements are capitalized and depreciated over a recovery period of 5, 7, 15 or 39 years, depending on a number of factors.

Beginning in 2018, the new tax law allows many businesses to write off the full cost of qualified section 179 improvements as an expense for the tax year they were placed in service, eliminating the capitalization requirement.  Qualifying non-residential property improvements include the following:

  1. Roofs
  2. Heating, ventilation, and air conditioning
  3. Fire protection and alarm systems
  4. Security systems.

For more information, contact your tax professional or refer to the following links: