WRITE OFF 100% OF QUALIFYING FACILITY IMPROVEMENT COSTS.
The 2020 Coronavirus Aid, Relief, and Economic Stability (CARES) Act allows a full deduction of certain project costs in a single year, without limitation on the size of the project. This combined with the fact that many modern upgrades are energy efficient and typically pay for themselves in a few years makes it a great time to invest in facility upgrades.
In the past, the deduction for facility upgrades was taken over a 39-year period, resulting in a 2.5% write-off each year. This change qualifies certain interior improvements made to nonresidential real property, known as “qualified improvement property” (QIP).
Transworld Electric can help you take advantage of the CARES Act Incentive while improving your electrical system’s safety and reliability.