A new roof is a matter of return on investment. Business owners across the country are having roof replacements to cut repair, insulation, and heat costs. That’s why nearly 1.2 billion square feet of TPO roofing has been installed since 2013 — but even the most energy-efficient roofs on the market have trouble recouping 100% of their initial cost.

Good news: the price just went down.

Under Section 179 of the 2018 IRS Tax Code, businesses can deduct the full purchase price of their equipment. That covers roof replacements, as well — up to a million dollars.

Be sure to check with a tax advisor to see if it is applicable to your business.

How Could Section 179 Make Your Re-Roofing a Reality?

1) Doing Away with Depreciation

In previous years, writing off business expenses often required years of depreciation, leaving a good chunk of income in the balance. The new Section 179 allows businesses to write off up $1,000,000 of expenses the year a business purchases them. This update gives small and medium-sized businesses much more room for quick expansion.

Now is the time for renovations.

2) Rewarding Roof Replacement

Say you’re switching to ENERGY STAR®-certified TPO roofing. According to the ENERGY STAR website, doing so could reduce your peak cooling demand by 10-15%. Now add the following to your calculation:

• No more roofing repair costs, like one school that has never had to repair its TPO roofing
• Greater protection from extreme weather
• Never replacing your roof again
• Potentially lower insurance premiums

Upgrading to TPO roofing isn’t cheap: it’s an investment. You’re overhauling your operating expenses. Cut costs, save on taxes, and watch your savings rise year over year.

3) Supporting Small & Medium Businesses

Note that you can only deduct up to $1,000,000 in expenses using Section 179. The deduction begins to phase out after you deduct $2,500,000 in equipment. Equipment generally must be purchased and used within the tax year you claim. To get the most out of your roofing replacement, that means you should act today — it might need to be finished for you to take advantage of Section 179.

With 2018’s updated Rule 179, a roofing replacement from ChemTech Roof & Insulations Systems Inc has never been a stronger investment. A leading installer of Firestone® TPO Roofing, they’ve led Triad Area roofing companies in customer service since 1981. Call ChemTech Roof & Insulation Systems Inc at (336) 767-4500 or visit their website today, and your budget will thank you tomorrow.