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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
Experience:  10 years experience
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My client is buying a new office building

Customer Question

My client is buying a new office building to house a new medical practice. I have been retained to make needed upgrades to the building which will include totally new LED lighting, a building automation system, HVAC duct work, new air handlers, and some modification to the interior. What elements are eligible for the 179d deductions? How do we apply for them?ThanksJ Price
JA: Thanks. Can you give me any more details about your issue?
Customer: Will the real estate property itself qualify? We understand there are tax credits up to U$ 0.60/ ft for energy reductions of 50%
JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.
Unfortunately the real property and improvements to the real property doesn't qualify for section 179.Commercial real estate is depreciated over 39 years.Correspondingly all improvements and appliances that are permanently attached to teh building (become a structural components) are depreciated teh same way as the building.You may separately depreciated the carpet which is five year property and may use section 179 for carpeting,In additional - appliances that are NOT attached to the building and are depreciated over shorter period may qualify for section 179.For instance - refrigerator, air-conditioner (window unit) , etc that are not permanently attached qualify for section 179.
Customer: replied 1 year ago.
That is entirely different than what the IRS said.
Customer: replied 1 year ago.
This was changed in December 2014. While waiting. I found different resources on the IRS site.
Customer: replied 1 year ago.
I assumed you guys were up to speed on recent tax codes. That's why in asked
Customer: replied 1 year ago.
Expert:  Lev replied 1 year ago.
If you have a different information - please provide references and I will verify.
Customer: replied 1 year ago.
Please reverse charges to my account. I'm not paying you to give tax advise
Customer: replied 1 year ago.
Send a receipt of the reversal. My bank fraud dept may contact your organization shortly
Customer: replied 1 year ago.
This is the 5- trial charge and 35- month charge
Expert:  Lev replied 1 year ago.
Please be aware that experts do not have access to you account - and be sure to direct all payment issues to the customer service.As you indicated your intention not to pay - I would not be longer responding.