News and Events
Impact of Tax Reform on the Commercial Roofing Industry
Impact of Tax Reform on the Commercial Roofing Industry The recently enacted national tax reform bill features pro-growth adjustments for businesses, and the roofing industry is one of the benefitting parties. Better known as the Tax Cuts and Jobs Act, the bill features enhanced deductions under Section 179 that lower the cost of commercial property improvements, including the roof. The newly modified Section 179 expands the definition of eligible property and increases the amount of associated costs that may be expensed as of January 1, 2018. Certain updates to nonresidential property, including roofs, may now be fully expensed in the year of purchase, rather than depreciating the cost over 39 years. The reform also...
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