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

By |2018-04-13T13:00:55-04:00April 13th, 2018|Categories: Business, Commercial, Construction Loans, Income, Investing, Investment Properties, Taxes|Tags: |0 Comments

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