Top of the mornin' to ya,
If you’ve been postponing major roof maintenance or replacement for your office building or other commercial space, it’s perhaps a good time to put a call into your friends at Chamberlin Roofing & Waterproofing. A new provision in the tax law for 2018 allows the cost of improvements to nonresidential roofs to be expensed pronto.
Indeed, it’s true. The tax man has made roof maintenance a good deal more appealing for business owners. As of January 1, 2018, the cost of improvements to nonresidential roofs, and even roof replacements on existing buildings can be written off straightaway — this tax year. Until now, these costs would have to be depreciated over time.
Section 179 of the Tax Cuts and Jobs Act isn’t an entirely new deduction. However, changes to the code will certainly prove mighty beneficial to businesses that take advantage of the opportunity. Now businesses can deduct up to $1,000,000 spent on equipment or improvements — almost double the limit of last year.
Last but never least, the Chamberlin Man I am. A tax man I am not. By all means, consult a professional tax accountant for direct advice on this matter.
Until next time, I’ll be seeing you around.
- The Chamberlin Man