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Changes in Tax Code Include Incentives to Invest in Fire Protection Systems

Posted by ORR Protection on Sep 27, 2018 2:30:27 AM

2018 is a great year to invest in a new fire protection system. The Tax Cuts and Jobs Act (H.R. 1) that was signed into law on December 22, 2017, included important changes to the U.S. tax code providing incentives for businesses to invest in new fire protection systems. These incentives were part of the broader effort to produce long-term economic growth by encouraging business to make capital investments.

Deduct the Cost of a New Fire Protection System

Previously, the cost of commercial-use fire protection systems had to be capitalized and depreciated over a number of years. But beginning in 2018, Section 179 of the new tax law allows small to medium-size businesses to write off the total cost of a new fire protection system for the tax year it was placed in service. This now eliminates the capitalization requirement.

For the first time, qualifying businesses can deduct the costs of new fire protection system, up to a total of $1 million under Section 179 of the new law, despite being considered building improvements. The law also increases the amount of qualified purchases a business can expense to $1 million. This is double the previous amount of $500,000. This deduction phases out on a dollar-for-dollar basis after a business has $2.5 million in total qualifying purchases, reaching zero at $3.5 million. After 2018, the increased limit and phase out threshold are indexed to inflation.

Plan your new fire protection system with us

Disclaimer: The information included here is intended for general information only and is not intended to be tax or legal advice. Please consult your tax professional before making business decisions that could affect your tax situation. Each business situation is different and tax regulations change frequently.

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Fire Protection Playbook

WHAT IS FM-200

FM-200® (Heptafluoropropane) is a compound of carbon, fluorine and hydrogen (CF3CHFCF3). HFC-227ea is a fast acting clean agent fire suppression gas with a wide range of benefits and applications.

VERY FAST STOPPING POWER

FM-200 systems reach extinguishing levels in 10 seconds or less, stopping ordinary combustible, electrical, and flammable liquid fires before they cause significant damage. That's the fastest fire protection available, period. When fire is extinguished this quickly, it means less damage, lower repair costs, and an extra margin of safety for people. It also means less downtime and
disruption of business.

ECO-FRIENDLY HALON 1301 REPLACEMENT

FM-200 is an important part of an environmentally responsible clean agent fire suppression solution with a zero ozone-depleting potential. This makes it a suitable choice for new installations using total flooding systems, and for Halon 1301 replacement applications.

CLEAN AGENT

FM-200 is an odorless, colorless, liquefied compressed gas. It is stored as a liquid and dispensed into the hazard as a colorless, electrically non-conductive vapor that is clear and does not obscure vision. It leaves no residue.

WIDE RANGE OF APPLICATIONS

FM-200 provides superior fire protection in a wide range of applications from sensitive electrical equipment to industrial applications using flammable liquids. FM-200 is clean, leaves no residue, thereby eliminating costly after-fire clean-up, and keeping expensive “down-time” to a minimum. Most materials

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