Commercial building and facilities management resources for corporate facility executives, building operators and facility managers in all industry and service sectors. Taxes articles below.
Whether the expenditure is considered routine building maintenance or an improvement or betterment will have an impact on tax implications under the new regulations.
The reduction of the building envelope percentage to 10% is beneficial to building owners taking on whole facility construction or improvement projects.
Tax returns are due in a few days (Monday, April 18, to be precise), and fewer workers plan to use their tax refunds to pay off bills and more plan to put the money into savings, reflecting a more stable economy.
BOMA International applauds Congress’ recent passage of the $859 billion tax bill, which includes provisions that will strengthen commercial real estate and economic recovery.
Until the end of 2010, qualified businesses can participate in the American Recovery & Reinvestment Act of 2009 (ARRA) which provides a cash rebate of 30% of the cost of a solar-produced (renewable) energy system. The rebate generally comes within 60 days following completion of the system installation.