Power Splurge
It might pay to implement energy-saving measures.
You can now save energy and reap tax savings, too, thanks to the Energy Policy Act of 2005.
Entrepreneurs should check out a section of the law that allows commercial property owners to deduct the cost of installing energy-conserving improvements. These must be made under a professionally certified plan approved by the IRS that shows how the steps you take will reduce your total annual energy costs by at least 50 percent. If you can't reduce costs by that much, you may qualify for a partial deduction of up to 60 percent of building costs per square foot. This benefit is only available for improvements placed in service in 2006 and 2007, and the deduction cannot exceed $1.80 per square foot.
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