Addition of Roofs as Qualifying Property
Definition of qualified property expanded to include improvements to nonresidential roofs,
heating, ventilation, and air-conditioning property; fire protection and alarm systems; and
security systems.
Expense costs immediately vs. depreciating over multiple years
Deduct the full cost of the roof in the year completed instead of depreciating over 39 years, as
was required under previous law. Amounts will be indexed for inflation starting in 2019.
Maximize purchasing power
Raises maximum amount a business may expense to $1 million and increases phase-out threshold to $2.5 million. Changes provide small business owners with generous new (and higher) deduction limits.Definition of qualified property expanded to include improvements to nonresidential roofs, heating, ventilation, and air-conditioning property; fire protection and alarm systems; and security systems.Deduct the full cost of the roof in the year completed instead of depreciating over 39 years, as was required under previous law. Amounts will be indexed for inflation starting in 2019.
Section 179 can change each year without notice (Section 179 has even changed mid-year), so it benefits you to take advantage of this generous tax code while it’s available.
