Case Study

A&E Firm Achieves Tax Savings Through 179D Energy Deduction Study

April 15, 2019

Situation

A top 150-ranked architecture and engineering (A&E) firm with 10 office locations and 450 professionals in the U.S. wanted to take advantage of various tax credits and incentives available.

Cherry Bekaert’s Guidance

Cherry Bekaert performed a financial statement audit and a FAR compliance audit, provided tax compliance and consulting guidance, addressed state and local tax issues, and researched potential tax credits and incentives, which included a 179D energy deduction study.

Result

The 179D energy deduction study resulted in transfers totaling $3.7 million, which translated into $1.5 million in tax savings for the client. Additionally, there were additional outstanding 179D transfers of $1.8 million, which lead to potential tax savings of $800K.