New Tax Bill Will Benefit Building Owners Needing a Roof Replacement
Great news for customers wanting to replace their commercial roofs in 2018! The Tax Cuts and Jobs Act now allows for Section 179 write-off for roof replacement expense for Section 1250 Real Property. Until now, roofs needed to be depreciated over a 39-year period. The new law expands the definition of qualified Section 179 property to include roofs of non-residential real property. Maximum deduction is 1 million dollars and it begins to phase out after 2.5 million. With such high limits, most taxpayers will be able to take advantage of this benefit, but check first with your tax professional.
Consider taking advantage of the new law, by replacing your worn-out roof system this year. Call Dave or Kiel to schedule an estimate at 734-422-1990 today!
