Posted By Nathan Pobre, Thursday, April 12, 2018
There has been a great deal of news coverage about the recent Tax Cut and Jobs Act. But as with all things related to the tax code, getting to what matters can be a long and arduous hunt. The Polyisocyanurate Insulation Manufacturers Association (PIMA) made an assessment of the impacts this legislation will have on the building and roofing industries. It found that new reforms allow qualifying building owners to expense, or deduct, up to $1 million for the cost of certain building improvements in the year the work is performed, including adding insulation during roof replacement projects to meet or go beyond modern building energy code requirements. The impact can be significant for capital improvement projects. For example, a building owner that expenses the cost of a full roof replacement can reduce the net cost of the entire project by 25% to 30%. You can find our one-pager with more detail [here].