For business owners and facility managers, the concept of spending unnecessary money on a new HVAC system is, well, chilling. But so is the concept of leaving money on the table!
R22, also known as Freon, is on the way out. EPA action makes it illegal to produce or import R22 as of Jan. 1, 2020. That creates a challenge, as companies try to decide whether to replace compressors that use R22, convert them, or simply maintain them and hope for the best.
At the same time, another government action provides a strong incentive for replacing HVAC systems. The new Tax Cuts and Jobs Act allows business owners to depreciate 100% of the cost of an HVAC system in the first year1, rather than spreading that depreciation over 39 years. The change can create tremendous tax savings.
Should you buy a new HVAC system in 2018, and capture those tax benefits? Every situation is different, and you’ll want to talk to your financial experts about your company’s approach.
Talk to Lee Company too
Lee Company uses predictive maintenance technology to help our facility customers determine the best plan of action. With Digital Sound Technology, smart glasses that capture audio and video, and other innovations, we’re able to provide insights on the condition and outlook for current equipment, so they can budget accordingly.
Create your R22 action plan strategically. Lee Company is here to help!