Building Green Can Lead to Gold With Federal Tax Incentives, Say BNA Webinar Experts

ARLINGTON, Va., May 4 /PRNewswire-USNewswire/ -- Companies that have built, own, or lease commercial buildings and have installed or retrofitted the property to be more energy efficient may be eligible to deduct all or part of the costs associated with the installation or retrofit, according to leading industry experts in the latest webinar from BNA Tax & Accounting, Federal Tax Incentives:  Building Green Can Lead to Gold on May 18th.  

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As SourceCorp's Matthew Rader and John Connell explain, the Energy-Efficient Commercial Building Tax Deduction, or section 179D, provides a tax deduction of up to $1.80 per square foot for the installation of systems that reduce the total energy and power costs by 50 percent. Eligible building systems include interior lighting systems, heating, cooling, ventilation, hot water systems, and building envelope systems.

"The energy efficient commercial buildings deduction is helping reshape the landscape for green building. The rising cost of heating, cooling and illuminating commercial property has created an ever increasing demand for more efficient systems, says BNA Tax & Accounting Managing Editor Karen Fickes.  "The possibility of future cap and trade legislation will only increase those costs. All entities involved in commercial renovations or new construction -- from long-range financial planners, to architects, engineers, consultants, builders and property owners -- need to understand how the energy efficient commercial buildings deduction may apply to their projects. The result is a win-win: lower energy costs, smaller carbon foot print, and a lower tax liability."

While the company or person that makes the expenditures for construction is generally the recipient of the section 179D deduction, there is an exception in the case of government-owned buildings. Architects, engineers, and other designers can claim federal tax deductions for certain energy-efficient features in public schools, public universities, and government buildings of all kinds. Designers include architects, engineers, contractors, environmental consultants, or energy services providers who create the technical specifications for a new building or an addition to an existing building that incorporates energy-efficient commercial building property.

In 60-90 minutes, Rader and Connell will explain:

• Who qualifies
• What qualifies – not just geothermal
• How it affects the tax return/How to claim it on your tax return
• Drivers of green building
• Tax credits and which energy property relates to section 179D
• What steps are necessary in order to qualify
• How section 179D relates to LEED
• Case studies

Speakers:

Matthew Rader, LEED AP, is SourceCorp's Director of Cost Segregation Services and section 179D Green Building Tax Deduction Certification. He lectures on section 179D, Cost Segregation and other tax issues for chapters of the American Society of CPAs, Certified Financial Planners, and local CPA chapters as well as specific industry associations. Rader worked for both Arthur Andersen and KPMG before joining SourceCorp. His educational and work background also includes Construction Science, and he holds a B.S. degree in Construction Science from Texas A&M. Rader is a published author with articles in major periodicals.

John Connell, PE, LEED, AP. is a Consultant in Cost Segregation and Green Building 179D. Connell has more than 15 years' experience in appraisal, cost estimating, engineering, and project management and is a licensed Professional Engineer in 15 states.

Prior to cost segregation, Connell's background was in construction project management, engineering, and real property appraisal. As a project engineer, Connell completed numerous facility projects for the South Carolina State Ports Authority, Medical University of South Carolina and the United States Air Force.  John holds a Bachelor of Science degree in Civil & Environmental Engineering from Clarkson University, a Master of Science degree in Civil Engineering from Clemson University, and a Master of Business Administration from the Moore School of Business at the University of South Carolina.

Federal Tax Incentives:  Building Green Can Lead to Gold, will take place May 18, 2010, from 12:30 – 2:00 pm, ET). To register for this webinar go to: http://www.bnatax.com/section-179d-webinar/?open&cmpid=tmtxpr2010. To obtain further information about CLE and CPE credits, go to http://www.bnatax.com/CLE-CPE-Information/?open&cmpid=tmtxpr2010 or call 1-800-372-1033, menu Option 6, then Option 1. The fee is $249 for BNA subscribers, $299 for non-subscribers.

To receive automatic, email notification of upcoming BNA webinars that may be of interest to you, go to: http://www.bna.com/emailsignup.htm.

About BNA Tax & Accounting Webinars

BNA Tax & Accounting is the foremost source of tax and accounting research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants.  Designed for today's busy practitioners, our webinars offer the same expertise and relevance that are the hallmark of all BNA Tax & Accounting resources. In just 60-90 minutes, practitioners gain in-depth knowledge on a current tax or accounting topic from experts in that area — and benefit from practical applications that can be put to work immediately. Conference attendees have the opportunity to ask the speakers questions, and may be eligible to earn CLE or CPE credits — all from the convenience of their own office or conference room.

SOURCE BNA Tax & Accounting