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Tax Deduction Consulting: Commercial Real Estate Windham ME

The government promotes real estate ownership through tax deductions and incentives. This article focuses on the commercial real estate tax deduction.

Michael John DellOlio (RFC®), JD, MBA
(207) 294-0401
16 Middle Street
Saco, ME
Company
Michael J. DellOlio & Associates, L.L.C.
Qualifications
Education: B.S.,MBA,J.D.,NASD Series 6,7,24,63,65; Maine Insurance License
Years of Experience: 24
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Retirement Planning, Tax Planning, Tax Returns, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, BuySell, Compensation Plans

Data Provided by:
Liberty Tax Service
(207) 828-4829
694 Forest Ave
Portland, ME
 
H & R Block
(207) 773-0221
252 Saint John St
Portland, ME
 
Brown Barry J
(207) 879-7000
22 Free St Ste 301
Portland, ME
 
H&R Block
(207) 541-1981
629 FOREST AVE
PORTLAND, ME

Data Provided by:
Austin Associates PA CPA
(207) 892-6642
183 Us Route 1
Portland, ME
 
Scott Associates
(207) 772-0441
12 Revere St
Portland, ME
 
Johnson Virginia M
(207) 772-2322
686 Brighton Ave
Portland, ME
 
David Thomas & Assoc
(207) 871-0123
477 Congress St Ste 1005
Portland, ME
 
Hutnak Stephen A LLC
(207) 772-1600
100 Middle St Ste 401
Portland, ME
 
Data Provided by:

Tax Deduction Consulting: Commercial Real Estate

Commercial Real Estate Tax Deduction

The government promotes real estate ownership through tax deductions and incentives. This article focuses on the commercial real estate tax deduction.

If you are an owner of commercial real estate, deductions are coming your way. For individuals with investment and business properties, ownership can offer special tax deductions. If you choose your investment wisely, these incentives can be punctuated and enhanced. Most deductions come from those buildings in less affluent areas, and construction that enhances energy efficiency. Making the most of your commercial real estate in deductions is key to a hefty tax return for owners.

For any energy saving adjustments you make to your piece of real estate, you will see a significant deduction. Under the Energy Policy Act of 2005, property owners are subject to $1.80 of deduction per square foot. Every square foot that was enhanced for energy saving purposes is included. Such efficiencies include solar heating, sunroofs for lighting and even insulation advances. In order for these improvements to be included, there must be a fifty percent energy savings as a result of the work done.

If you choose to rebuild an old piece of property, you too will see deductions. If the building in question was built before 1936 or is a certified Historic Structure, you are in luck. As the owner of the building, it is assumed that you will be making upgrades to the property. If you renovate, restore or rebuild the building, you are entitled to ten to twenty percent credit of the expenditures. In addition, if you run a business that assists the economically challenged, there are several deductions your real estate property will be eligible for.

If your building meets requirements set forth by the Americans With Disabilities Act, you may also have deduction possibilities. After meeting certain requirements, such as a staff of less than thirty individuals, you are eligible for up to fifty percen...

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