Tax laws and regulations are constantly changing, and it can be difficult to keep up with it all. In this blog, CSSI experts share their insights around the most relevant issues and developments impacting your tax situation.
IRS Form 7205 is the official form used to claim the Section 179D Energy Efficient Commercial Buildings Deduction. This tax incentive allows commercial building owners and certain designers of government and non-profit projects to claim significant deductions for installing energy-efficient building systems. The deduction can be as high as $5.81 per square foot depending on […]
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As the tax landscape shifts in 2025, organizations planning energy-efficient construction or retrofits must act quickly if they hope to capture long-standing incentives before time runs out. The recent passage of the “One Big Beautiful Bill Act” (OBBBA) introduces a definitive sunset for the Section 179D deduction, creating both urgency and opportunity for building owners, […]
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When running a business (or owning real estate), one of the more tedious, and audit-risky, questions is whether an expense should be expensed immediately or capitalized and depreciated over time. The de minimis safe harbor election (under IRS § 1.263(a)-1(f)) offers a helpful shortcut to simplify that decision for many smaller expenditures. Below, you’ll find […]
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In a landmark legislative win for congressional Republicans and the Trump administration, the “One Big Beautiful Bill” has officially passed both chambers of Congress and is now law. This sweeping reconciliation package cements key provisions from the 2017 Tax Cuts and Jobs Act (TCJA), expands select deductions, and reshapes the tax and entitlement landscape for […]
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