HVAC Breaking News

Oct. 13, 2004: ACCA Calls Tax Bill A Victory For HVACR Contractors

October 13, 2004
/ Print / Reprints /
ShareMore
/ Text Size+
ARLINGTON, Va. - The Air Conditioning Contractors of America (ACCA) has hailed the corporate tax bill passed by Congress as a major victory for the HVACR contracting industry. The legislation includes a provision that provides another two years for contractors to take advantage of a significant tax incentive.

The incentive is an increase in expensing limits originally passed last year that raised the deductible amount from $25,000 to $100,000 on qualifying property placed into service in a taxable year.

The original legislation had a "sunset" provision under which it would expire, and the incentive end, on Dec. 31, 2005. However, the new legislation extends the incentive until Dec. 31, 2007.

"This is an important step and a vital victory for the HVACR industry, because this incentive is putting thousands and thousands of dollars back into contractors' pockets to the benefit of their businesses, their employees, and their communities," said Paul T. Stalknecht, ACCA president and CEO.

"But it is just one step toward our goal of making this increase in expensing limits permanent. Reverting to pre-2003 levels would amount to a huge tax increase on contractors. We also need the ability to plan ahead that can only come with making this tax cut permanent.

"We salute the bipartisan majorities in Congress for enacting this important legislation, and President Bush for supporting it."

Publication date: 10/11/2004

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

Kyle Gargaro, editor-in-chief of The NEWS, hosted the 2014 ACCA CEO Forum. At the event, six well-known, highly respected company executives, Gary Michel, Ingersoll Rand/Trane; Chris Nelson, Carrier Corp.; Chris Peel, Rheem Mfg. Co.; Rod Rushing, Johnson Controls; Brent Schroeder, Emerson Climate Technologies; and Doug Young, Lennox; provided individual industry outlooks and fielded questions directly from attending contractors. Listen to the entire event on the NEWSMakers podcast. Posted on April 14.

More Podcasts

THE MAGAZINE

ACHRNEWS

NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con