The U.S. Government is providing huge tax incentives to businesses to invest in security and life safety systems.
The government now allows businesses to write off the full cost of such systems as an expense for the tax year they were placed in service.
This eliminates the prior capitalize and depreciation schedules (five, seven, 15 or 39 years) previously required under the tax code, and that can mean huge money for you.
The impact: after tax system cost is greatly reduced by offsetting it with the tax savings generated.
Systems eligible for these tax incentives include:
- Fire-protection and alarm systems, including sensing devices, computer controls, sprinkler heads, sprinkler mains, associated piping or plumbing, pumps, visual and audible alarms, alarm control panels, heat and smoke detection devices, fire escapes, fire doors, emergency exit lighting and signage, and fire-fighting equipment, such as extinguishers and hoses
- Security systems for the protection of the building and its occupants, including window and door locks, security cameras, recorders, monitors, motion detectors, security lighting, alarm systems, entry and access systems, related junction boxes, associated wiring and conduit
The Security Industry Association has prepared a concise brief explaining these tax incentives along with several examples.
If you need protection for your Texas area business, or have questions about these tax incentives, contact our office at (512) 693-4003.