Former President Trump signed the Consolidated Appropriations Act of 2021 (CAA) into law on December 27, 2020. The CAA included a host of individual, business, payroll, disaster, and energy-related tax provisions, as well as two key tax extenders: the 179D Energy Efficient Commercial Building Deduction was made PERMANENT, and the 45L Energy Efficient Homes Credit was extended through 2021. Section 179D allows a deduction of up to $1.80/SF for new and renovated buildings and applies to private commercial property owners and designers/contractors working on publicly owned properties. The 45L Tax Credit allows a $1,000 or $2,000 tax credit to builders of energy-efficient homes and apartments meeting certain qualifying criteria.

Additionally, the CAA clarifies that taxpayers whose PPP loans are forgiven are allowed deductions for otherwise deductible expenses paid with the proceeds of a PPP loan. Companies claiming the federal R&D tax credit can breathe a sigh of relief given that qualified research expenses must be capable of treatment as a Section 174 expense.

In this webinar, BRAYN's Director, Jason Villere, will cover what this means specifically for your business and how to maximize these highly lucrative tax credits and deductions.

Learning Objectives:

• Identify new provisions included in the CAA


• Determine how the CAA affects tax credits and deductions for businesses