Walker Reid Strategies

Walker Reid Strategies provides full audit defense without limits for all certifications performed. What information do you need to certify a building for a 179D Deduction? Walker Reid Strategies is committed to limiting our clients internal efforts and costs when pursuing a 179D certification. Any project information which cannot be effortlessly provided will be field gathered during the site inspection. Does a 179D Allocation affect a government building owner? Government building owners are required to reduce the basis of the energy efficient commercial building property by the amount of the 179D deduction allocated. Because it is not typical for a state agency to file an income tax return or to keep tax depreciation records, governments should not be at all affected by adjusting tax basis in the property. GAAP books and records are not affected by a tax basis reduction. On Government Buildings, how do I know if someone has already claimed a 179D Tax Deduction? Each government agency will have their own internal process on managing and tracking the allocation of Section 179D for their buildings. When a designer/contractor receives a signed allocation letter from a government building owner representative, they will be treated as satisfying the requirements. Who must sign the allocation letter? IRS guidance simply states that an "authorized representative of the owner of the government-owned building" must sign the declaration of the allocation letter. Typically, this would be any personnel familiar with the project and having the ability to verify information such as completion date and cost of the project.