Section 179 refers to the tax code that allows businesses to deduct an amount larger than normal depreciation for assets, typically thousands of dollars, during the year placed in service. The expenses allowed to businesses under the Section 179 deduction is designed as an incentive for companies to invest more in their business, as the tax savings can be significant. Given the expansion of the Section 179 deduction under the new Tax Cuts and Jobs Act, there has never been a better time for businesses to add equipment, and now even building improvements.
One of the most important changes with H.R.1, the new tax law signed on December 22, 2017, is the incentive for businesses to invest in building fire protection and alarm systems. Beginning in 2018, businesses may expense the entire cost of these systems in the year placed in service, up to specific limitations. The limits are now set at $1 million, which begin to phase out after a company has reached $2.5 million in qualifying asset acquisitions.
While tangible personal property such as machinery and equipment was the typical expense under Section 179, the expansion now includes improvements to qualified nonresidential real property such as heating and air conditioning (HVAC) systems, roofs, ventilation, security systems and fire protection and alarm systems. Click here to review all types of qualifying property.
HRSS is Your Full-Service Fire Alarm System Provider
High Rise Security Systems is recognized is a full-service fire and safety systems provider, offering skilled fire system design, inspections, repairs, testing and monitoring 24/7/365. We are a certified distributor of the leading brand names in fire safety, including NOTIFIER™️ by Honeywell fire alarm systems which offer fire and safety systems for any sized building or property. HRSS works with building owners, electrical contractors, engineers and architects to develop the best fire system design for your building.
HRSS provides fire safety systems that meet all code requirements including local fire safety codes specific to the city of Chicago, the State of Illinois and National regulations including all National Fire Protection Association, NFPA, standards, Americans with Disabilities Act, ADA, requirements, International Building Code, IBC, regulations and any other applicable fire safety regulations.
Whether you are constructing a new building or retrofitting an older one, HRSS has the fire and safety solution which goes above and beyond code requirements. We ensure early detection and warning systems are designed to provide maximum safety to your occupants and protection to your property.
Let HRSS Help Determine the Best Fire Alarm System for Your Property
High Rise Security Systems will help you evaluate your options with fire and safety systems to determine the best type to fit your building. We offer fire alarm system design for all types of commercial properties including, high-rise buildings, low-rise buildings, mass complexes and campuses.
Take advantage of the Section 179 deduction and invest in or upgrade your fire alarm safety system for your commercial property. HRSS will partner with you to be sure that you install the best system for your property, without spending more than you need to.
HRSS is recognized as a leading fire alarm system company, providing comprehensive services to provide maximum protection to your building occupants and property. Contact us today to learn how you can save on taxes when you invest in building improvements such as reliable fire detection and alarm systems.