Join us August 27th for an AIA-accredited live virtual meetup on the 179D and 45L tax incentives.
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The 179D tax deduction, part of the Energy Policy Act of 2005, incentivizes energy-efficient improvements in commercial buildings. Designers, architects, and engineers can claim deductions for systems like HVAC, lighting, and building envelope enhancements.
An allocation letter is essential for claiming the 179D deduction. Issued by the property owner, this letter allocates the deduction to designers who contributed to the energy-efficient improvements.
If you need assistance with allocation letters, AllocatePro is a powerful tool designed to streamline the process of obtaining them. This platform centralizes all required documentation, offers complete visibility of request statuses, and ensures compliance with current regulations. By simplifying these tasks, AllocatePro helps government agencies and design professionals efficiently manage their energy tax incentives, reducing administrative burdens and facilitating smoother collaboration between project stakeholders.
Maximum Allocation: You can request up to 100% of the 179D deduction, but it cannot exceed the project's total cost.
Sharing the Deduction: The deduction can be shared among designers, architects, and engineers involved in the project. The total allocation cannot exceed 100% of the project's cost.
Unsure of the Amount: If you're unsure, selecting 100% is a safe option. AllocatePro’s team of experts can also help determine the appropriate amount during the study process.
Understanding and requesting the right allocation percentage for your 179D deduction is crucial for maximizing your tax benefits and ensuring compliance. By considering the project's total cost and sharing the deduction appropriately among contributors, you can effectively utilize this incentive.
AllocatePro can help simplify this process for you making sure you stay on top of your credits and your compliance.
Abby Massey is an expert in applying tax incentives for clean energy initiatives. With a B.S. in Civil Engineering from Purdue University and licenses in 47 states plus the District of Columbia, Abby offers significant expertise to her role at TaxTaker as the Vice President of Energy Incentives. Her experience includes certifying over 1,400 179D deductions, achieving more than $100 million in savings for clients. As a LEED Accredited Professional, Abby is dedicated to sustainable building practices. In her role at TaxTaker, she focuses on optimizing energy incentives for clients by leveraging her in-depth understanding of the 179D program, aiming to improve business sustainability and efficiency.
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