THE RIGHT MATERIALS + SKILLED APPLICATION = PEACE OF MIND
The success of any roofing project both commercial and residential - from preparing for a new roof to restoring an existing one - depends on the right solution from the right company!
Signature Roofing and Coatings offers the following services:
Roof Restoration (advanced roof coating system)
Storm Damage Restoration and Insurance Recovery
Insurance-funded Roof Replacements
Storm damage repair
At Signature Roofing and Coatings, we understand that a roofing project can be a significant investment, which is why we offer our "Signature" level of service to make this process as easy as possible.
Contact us today to schedule a Signature inspection of your project!
WHAT IS SECTION 179?
Learn how businesses nationwide take advantage of Section 179 by depreciating roof replacements, saving tens of thousands of dollars on their organization's taxes.
Section 179 is an IRS tax code part of the Tax Cut and Jobs Act that allows businesses to deduct the total purchase price of qualifying equipment from their taxable income. Qualifying purchases include improvements to roofs, HVAC systems, fire protection systems, etc. This bonus depreciation is currently set at 80% but will decrease to 60% in 2024
Why is Section 179 important to businesses?
Business owners can save a tremendous amount of money on their taxes. The tax code allows businesses to invest in improving their building and benefit from these expenditures in the same tax year.
Are roofing projects eligible for Section 179? Yes. The IRS uses "roofs" as an example of improvements made to nonresidential real property after the date the property was first placed in service.
Why should businesses take advantage of Section 179 as soon as possible?
Beginning on January 1, 2024, the bonus depreciation will decrease from 80% to 60%. The rate will continue to decline by 20% annually through 2026.
For example, if a business is replacing a location's roof that costs $50,000 in 2023, they could deduct $40,000 from their 2023 taxes. If that same roof were installed in 2024, only $30,000 could be deductible from their 2024 taxes.
Signature Roofing and Coatings does not intend to provide tax, legal, or accounting advice. Please consult with your tax advisor before making any decisions regarding Section 179.