Section 168 of the 2020 CARES Act passed in March 2020 extended the ability for businesses making HVAC improvements (excluding new construction) that meet certain criteria, to expense those costs in the current year instead of depreciating it over 39 years. This extended the benefit to include improvements made up to January 1, 2023. For commercial buildings, the cost of HVAC equipment placed into service in 2021 may be deducted 100% as a business expense resulting thousands of dollars in potential tax savings for your business.
