Property Tax Write-Offs to Take Advantage Of

Every small business property owner should always look for ways to save money on their annual property taxes. This can be particularly difficult when you don’t understand property tax law and what can be written off as a business expense. Our property tax consultants in Dallas are experts in saving business owners money on their property taxes. For the savvy business owner, here are a few surprising things you can write off on your property taxes.

Save Money on Property Taxes With Energy Efficiency

The Energy Policy Act of 2005 allows businesses to write off energy efficiency improvements to your building providing they meet certain qualifications. If you’ve installed an energy-efficient heating and cooling system or made other efficiency improvements to your property and building, then those upgrades may be eligible for a tax write-off. The amount you save is $1.80 per square foot of your business property. Energy-efficient buildings not only help save money on taxes but also on your monthly utilities.

Invest in Your Dallas Business and Reduce Your Property Taxes

Section 179 code allows businesses that purchase new software or equipment to write those purchases off in their property taxes. This code was essentially created to encourage small businesses to invest in themselves and save money in the process. If you’ve bought a new license to software or new printing and copy machine in the last year, then it might be eligible for a tax write-off. A property tax consultant will be able to give you a definitive answer on this.

Repairs to Your Business Property

If you’ve recently made repairs to your business’ building to restore it to its original condition, then it might be eligible for a tax break for the year in which the repairs are made. These repairs are considered a necessary step you have to take in order to maintain the value of your property. Business property taxes can be complicated which is why our tax consultants at the Hegwood Group are a good resource for all of your tax-related questions.

The Hegwood Group in Dallas Helps Businesses Save Tax Dollars

A business owner can’t do everything alone. Our property tax experts can take care of filing your property taxes so you don’t have to worry about. We understand that many people need help paying property taxes, which is why we’re in the tax consultant business. Contact us today to set up an appointment or for more information!

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