{"id":313,"date":"2020-05-12T19:40:08","date_gmt":"2020-05-12T19:40:08","guid":{"rendered":"https:\/\/www.afpgusa.com\/blog\/?p=313"},"modified":"2020-07-28T19:41:25","modified_gmt":"2020-07-28T19:41:25","slug":"how-the-2020-cares-act-can-save-your-business-money","status":"publish","type":"post","link":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/","title":{"rendered":"How the 2020 CARES Act Can Save Your Business Money"},"content":{"rendered":"<p>In March of 2020, the Federal government signed into effect the Coronavirus Aid, Relief, and Economic Security (CARES) Act. One of CARES\u2019 purposes is to provide relief to businesses affected by the Coronavirus with accelerated tax savings on \u201cqualified improvements\u201d to their business properties.<\/p>\n<p>Under Section 168 of the CARES Act, the cost of upgrades to your commercial fire sprinkler, fire alarm, special hazard, or security system may be fully deducted as a business expense if placed into service before the end of 2020. AFPG cares deeply about Life Safety and our customers, and we want to make sure all of you benefit from this opportunity to upgrade your Life Safety systems with maximum tax savings.<\/p>\n<p>Your cash savings will come from your first year depreciation deduction. Your deduction would normally be spread out over 39 years. But under Section 168, you can now deduct the full equipment and labor cost the very first year &#8211; giving you accelerated cash savings.<\/p>\n<p><strong>How the 2020 CARES Act works:<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-315\" src=\"https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/fcd8fa99-63b6-42b4-b404-28e3e5272435-550x137.png\" alt=\"CARES Act Table\" width=\"550\" height=\"137\" srcset=\"https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/fcd8fa99-63b6-42b4-b404-28e3e5272435-550x137.png 550w, https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/fcd8fa99-63b6-42b4-b404-28e3e5272435-768x191.png 768w, https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/fcd8fa99-63b6-42b4-b404-28e3e5272435-800x199.png 800w, https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/fcd8fa99-63b6-42b4-b404-28e3e5272435.png 1078w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/p>\n<p><strong>Below are the benefits of Section 168 of the CARES Act, as it pertains to Life Safety System upgrades:<\/strong><\/p>\n<ul>\n<li>Includes a full tax deduction for both the equipment and labor costs of Life Safety upgrades to commercial properties.<\/li>\n<li>Tax savings can be retroactive to any Life Safety upgrades performed after January 1, 2018.<\/li>\n<li>No maximum purchase amounts.<\/li>\n<li>Visit <a href=\"http:\/\/www.home.treasury.gov\">home.treasury.gov<\/a> for more information on the CARES Act<\/li>\n<\/ul>\n<p>To take advantage of this opportunity, please fill out our contact form <a href=\"https:\/\/www.afpgusa.com\/contact-us.php\">here<\/a>, and one of our Life Safety experts will contact you to discuss your options regarding the CARES Act.<\/p>\n<h6 class=\"null\"><span class=\"mc-toc-title\"><em>Disclaimer: The information outlined here is intended to provide general knowledge about the potential tax benefits of the 2020 CARES Act. Please consult with your tax professionals before making upgrades to your Life Safety systems that could affect your commercial tax situation.<\/em><\/span><\/h6>\n","protected":false},"excerpt":{"rendered":"<p>In March of 2020, the Federal government signed into effect the Coronavirus Aid, Relief, and Economic Security (CARES) Act. One of CARES\u2019 purposes is to provide relief to businesses affected by the Coronavirus with accelerated tax savings on \u201cqualified improvements\u201d&hellip; <a href=\"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/\" class=\"more-link\">Continue Reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":314,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[26,27,17,14,28],"class_list":["post-313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cares-act","tag-coronavirus","tag-fire-alarm","tag-fire-protection","tag-fire-sprinkler"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How the 2020 CARES Act Can Save Your Business Money - AFPG Blog<\/title>\n<meta name=\"description\" content=\"In March of 2020, the Federal government signed into effect the Coronavirus Aid, Relief, and Economic Security - CARES Act.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How the 2020 CARES Act Can Save Your Business Money - AFPG Blog\" \/>\n<meta property=\"og:description\" content=\"In March of 2020, the Federal government signed into effect the Coronavirus Aid, Relief, and Economic Security - CARES Act.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/\" \/>\n<meta property=\"og:site_name\" content=\"AFPG Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-12T19:40:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-28T19:41:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/e1221053-f6da-401b-bcd5-89a187c76ba4.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Rick Westbrook\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rick Westbrook\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/\"},\"author\":{\"name\":\"Rick Westbrook\",\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/#\\\/schema\\\/person\\\/e2245f0ade1ac75ede64ae1e22ae6465\"},\"headline\":\"How the 2020 CARES Act Can Save Your Business Money\",\"datePublished\":\"2020-05-12T19:40:08+00:00\",\"dateModified\":\"2020-07-28T19:41:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/\"},\"wordCount\":307,\"image\":{\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/e1221053-f6da-401b-bcd5-89a187c76ba4.png\",\"keywords\":[\"CARES Act\",\"coronavirus\",\"fire alarm\",\"fire protection\",\"fire sprinkler\"],\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/\",\"url\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/\",\"name\":\"How the 2020 CARES Act Can Save Your Business Money - AFPG Blog\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/e1221053-f6da-401b-bcd5-89a187c76ba4.png\",\"datePublished\":\"2020-05-12T19:40:08+00:00\",\"dateModified\":\"2020-07-28T19:41:25+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/#\\\/schema\\\/person\\\/e2245f0ade1ac75ede64ae1e22ae6465\"},\"description\":\"In March of 2020, the Federal government signed into effect the Coronavirus Aid, Relief, and Economic Security - CARES Act.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/e1221053-f6da-401b-bcd5-89a187c76ba4.png\",\"contentUrl\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/wp-content\\\/uploads\\\/2020\\\/07\\\/e1221053-f6da-401b-bcd5-89a187c76ba4.png\",\"width\":1200,\"height\":900,\"caption\":\"Coronavirus Aid, Relief and Economic Security Act\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/how-the-2020-cares-act-can-save-your-business-money\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How the 2020 CARES Act Can Save Your Business Money\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/\",\"name\":\"AFPG Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/#\\\/schema\\\/person\\\/e2245f0ade1ac75ede64ae1e22ae6465\",\"name\":\"Rick Westbrook\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d39cb4c6e99fc5cb12f0f2f6ab7d4dd8252de377fb585bc9f912e37338de91c5?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d39cb4c6e99fc5cb12f0f2f6ab7d4dd8252de377fb585bc9f912e37338de91c5?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d39cb4c6e99fc5cb12f0f2f6ab7d4dd8252de377fb585bc9f912e37338de91c5?s=96&d=mm&r=g\",\"caption\":\"Rick Westbrook\"},\"url\":\"https:\\\/\\\/www.afpgusa.com\\\/blog\\\/author\\\/rick-westbrook\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How the 2020 CARES Act Can Save Your Business Money - AFPG Blog","description":"In March of 2020, the Federal government signed into effect the Coronavirus Aid, Relief, and Economic Security - CARES Act.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/","og_locale":"en_US","og_type":"article","og_title":"How the 2020 CARES Act Can Save Your Business Money - AFPG Blog","og_description":"In March of 2020, the Federal government signed into effect the Coronavirus Aid, Relief, and Economic Security - CARES Act.","og_url":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/","og_site_name":"AFPG Blog","article_published_time":"2020-05-12T19:40:08+00:00","article_modified_time":"2020-07-28T19:41:25+00:00","og_image":[{"width":1200,"height":900,"url":"https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/e1221053-f6da-401b-bcd5-89a187c76ba4.png","type":"image\/png"}],"author":"Rick Westbrook","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Rick Westbrook","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/#article","isPartOf":{"@id":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/"},"author":{"name":"Rick Westbrook","@id":"https:\/\/www.afpgusa.com\/blog\/#\/schema\/person\/e2245f0ade1ac75ede64ae1e22ae6465"},"headline":"How the 2020 CARES Act Can Save Your Business Money","datePublished":"2020-05-12T19:40:08+00:00","dateModified":"2020-07-28T19:41:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/"},"wordCount":307,"image":{"@id":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/#primaryimage"},"thumbnailUrl":"https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/e1221053-f6da-401b-bcd5-89a187c76ba4.png","keywords":["CARES Act","coronavirus","fire alarm","fire protection","fire sprinkler"],"articleSection":["News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/","url":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/","name":"How the 2020 CARES Act Can Save Your Business Money - AFPG Blog","isPartOf":{"@id":"https:\/\/www.afpgusa.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/#primaryimage"},"image":{"@id":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/#primaryimage"},"thumbnailUrl":"https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/e1221053-f6da-401b-bcd5-89a187c76ba4.png","datePublished":"2020-05-12T19:40:08+00:00","dateModified":"2020-07-28T19:41:25+00:00","author":{"@id":"https:\/\/www.afpgusa.com\/blog\/#\/schema\/person\/e2245f0ade1ac75ede64ae1e22ae6465"},"description":"In March of 2020, the Federal government signed into effect the Coronavirus Aid, Relief, and Economic Security - CARES Act.","breadcrumb":{"@id":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/#primaryimage","url":"https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/e1221053-f6da-401b-bcd5-89a187c76ba4.png","contentUrl":"https:\/\/www.afpgusa.com\/blog\/wp-content\/uploads\/2020\/07\/e1221053-f6da-401b-bcd5-89a187c76ba4.png","width":1200,"height":900,"caption":"Coronavirus Aid, Relief and Economic Security Act"},{"@type":"BreadcrumbList","@id":"https:\/\/www.afpgusa.com\/blog\/how-the-2020-cares-act-can-save-your-business-money\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.afpgusa.com\/blog\/"},{"@type":"ListItem","position":2,"name":"How the 2020 CARES Act Can Save Your Business Money"}]},{"@type":"WebSite","@id":"https:\/\/www.afpgusa.com\/blog\/#website","url":"https:\/\/www.afpgusa.com\/blog\/","name":"AFPG Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.afpgusa.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.afpgusa.com\/blog\/#\/schema\/person\/e2245f0ade1ac75ede64ae1e22ae6465","name":"Rick Westbrook","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/d39cb4c6e99fc5cb12f0f2f6ab7d4dd8252de377fb585bc9f912e37338de91c5?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d39cb4c6e99fc5cb12f0f2f6ab7d4dd8252de377fb585bc9f912e37338de91c5?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d39cb4c6e99fc5cb12f0f2f6ab7d4dd8252de377fb585bc9f912e37338de91c5?s=96&d=mm&r=g","caption":"Rick Westbrook"},"url":"https:\/\/www.afpgusa.com\/blog\/author\/rick-westbrook\/"}]}},"_links":{"self":[{"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/posts\/313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/comments?post=313"}],"version-history":[{"count":1,"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/posts\/313\/revisions"}],"predecessor-version":[{"id":316,"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/posts\/313\/revisions\/316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/media\/314"}],"wp:attachment":[{"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/media?parent=313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/categories?post=313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.afpgusa.com\/blog\/wp-json\/wp\/v2\/tags?post=313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}