{"id":251,"date":"2019-10-14T16:20:45","date_gmt":"2019-10-14T16:20:45","guid":{"rendered":"https:\/\/www.afpgusa.com\/blog\/?p=251"},"modified":"2019-10-14T16:20:45","modified_gmt":"2019-10-14T16:20:45","slug":"what-are-the-tax-incentives-for-installing-a-new-sprinkler-system","status":"publish","type":"post","link":"https:\/\/www.afpgusa.com\/blog\/what-are-the-tax-incentives-for-installing-a-new-sprinkler-system\/","title":{"rendered":"What Are the Tax Incentives For Installing a New Sprinkler System?"},"content":{"rendered":"

Last year, the federal government passed new legislation called the \u201cTax Cuts & Job Act\u201d. This legislation included incentives for businesses that install new fire sprinkler systems. As fire sprinklers are the quickest way to extinguish a fire, it\u2019s important to incentivize businesses to install one. Money should never be seen as a deterrent to keeping your employees and patrons safe.<\/p>\n

Congress has added fire protection as an eligible expenditure under Section 179 of the tax code. Congress also increased the cap to $1 million (up from $500,000) as the amount that a small business can deduct in a single year. This provision applies only to commercial structures and cannot be used for retrofitting sprinklers into residential structures. However, critical occupancies such as entertainment venues could easily be done under this provision. This change is also a permanent law and unlike section 13201 is not gradually phased out over time.<\/p>\n

With tax incentives now in place, combined with one of the best economies in our lifetime, there has never been a better time to install a new sprinkler system. When speaking with your tax professional about these tax breaks, make sure to reference the changes in Section 179 of the recently passed tax reform legislation (P.L. 115-97), for up to $1 million in fire protection.<\/p>\n

What\u2019s Included in Section 179?<\/strong><\/p>\n