Highlights to Section 168
Qualified interior improvements made by the taxpayer for existing non-residential buildings may be eligible for a tax deduction of the full amount of equipment and labor costs in a single year, without limitation on the size of the project.
QIP can include:
- Fire protection systems and devices, including system migration
- Building management systems
- Security systems and devices
- Sensors, valves, actuators, and other HVAC devices
- HVAC interior ductwork
- Plumbing, electrical and gas distribution
- Modifications to tenant spaces, as long as the interior walls are not load-bearing
Invest in qualified facilities improvements to optimize building performance and tax savings.
DISCLAIMER – Siemens will not recommend any financing action to Customer as Siemens is not a registered municipal advisor and is not subject to any of the fiduciary duties imposed on municipal advisors. Siemens is not a tax advisor to nor fiduciary of Customer and Customer should consult its own legal, financial or other tax advisors as appropriate prior to taking any financing related action.