Incentives For The Architecture Industry
Architecture firms are in a unique position to claim incentives, refunds and rebates.
The Energy Efficient Commercial Building Deduction
In order to counter problems that we are facing in energy, Congress passed the Energy Policy Act of 2005 that created a tax incentive that relates to the design and installation of energy efficient interior lighting, HVAC, hot water, or building envelope systems in commercial buildings.
Through this incentive found in section 179D of the Internal Revenue Code, qualifying businesses can receive up to $1.80 per square foot in deductions for eligible projects placed into service any time from 2006 to 2014.
The R&D Tax Credit
Architecture firms can attest that designing a building is not all about aesthetic design. With the increase in sustainable and “green” designs incorporated into building features, architecture firms are expending more time and effort in the design phase of projects to achieve optimal energy-efficient and functional designs. If you think you have to be a manufacturer or software developer to be conducting qualified activities as defined by the Internal Revenue Code, think again.
If your firm is in the architecture industry, there is a strong chance that you could benefit from an R&D Tax Credit study.
Examples of activities and innovations eligible for R&D tax incentives include the following:
- Developing unique energy efficient features
- Designing master plans
- Developing schematic designs
- Developing planning and elevation drawings
- Designing a functional site plan to incorporate or overcome the site plan features
- Developing construction documents
- Designing and developing building facades
- Achieving LEED certification
- Designing building systems
- Designing site orientations
- Designing building shape and form
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