Tax Cuts and Jobs Act Allows Business Owners A Tax Break On Roofing Projects

Consider this: The Tax Cuts and Jobs Act offers business owners a new way to recover costs on projects including roofing projects as long as it’s on a qualifying project.
What is a Qualifying Project?
A depreciable tangible personal property purchased to use to conduct business counts as a qualifying project. The new Tax Cuts and Jobs Act lets businesses avoid devaluation on capital investments with expected lifespans of 20 years or less. So, while some roofs may last longer that 20 years, Everyone knows the lifespan of an asphalt shingle roof is considered 20 years.

Plus, the maximum investment is $2.5 million!

The new tax law includes business improvements, if you can believe it. Imagine deducting the cost of a roof all in one single year! The brand new Tax Cuts and Jobs Act is expected to extend through 2025, so there’s no need to rush. Remember, we’re hard money lenders, we’re not tax experts. So, check with your CPA to make sure you do everything needed to take advantage of this opportunity!

Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure […]

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    Rooftops on Commercial Buildings: Are You Overlooking an Important Source of Income?

Rooftops on Commercial Buildings: Are You Overlooking an Important Source of Income?

Are you utilizing your commercial building to its full potential? Is every possible square-inch of the space making you money? If you think you have maxed out on your property’s monthly cash flow—have you thought about going up? If you have a structurally sound rooftop that is up to code—why not let that unused space put cash in your pocket?

Atlanta’s climate and percentage of sunny days make rooftops another avenue for income. People love to spend their time outdoors, especially if you can offer a great view. Depending on what your rooftop has to offer—there are lots of opportunities you can look into.

Rooftop weddings, events, and pop-up restaurants are quickly becoming popular in the Atlanta area. If your space can accommodate—you could partner with a wedding and event coordinator—who may be in search of the perfect venue. Using your space for temporary pop-up restaurants not only generates extra income—it helps get the names of up-and-coming chefs out to the public.

If you’re not interested in having the added liability—you could make money by going green. Although it won’t make you rich—you could rent your extra space to an urban gardening group or even an energy company. There are plenty of urban farmers who are looking for sunny roof tops to help feed the community. Another option would be to discuss renewable energy sources with your power company. They may be searching for places to install solar panels and would pay you for it.

Before marketing your unused space—make sure it is inspected and up to code. Take the time to consider multiple things such as surface parking area, accessibility and restroom availability—all dependent on what you would like to offer. Your once empty area will soon […]


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