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New Tax Law Allows Immediate Expensing of HVAC Products

4/27/2018
New Tax Law Allows Immediate Expensing of HVAC Products
 
The recently passed Tax Cuts and Jobs Act included a provision to allow HVAC products to be immediately expensed. Under Section 179 Small Business Expensing, all components of a “heating, ventilation, and air-conditioning” system can be expensed in the first year instead of being depreciated over 39 years.

New tax law effective January 1, 2018:

26 U.S. Code § 179 –  A taxpayer may elect to treat the cost of any section 179 property as an expense which is not chargeable to capital account. Any cost so treated shall be allowed as a deduction for the taxable year in which the section 179 property is placed in service.

Qualified Real Property applicable includes heating, ventilation, and air-conditioning property.

Learn more.