Uncategorized
June 28, 2012
Deconstruction, the disassembly, rather than demolition, of an existing structure,
is growing in popularity for those who are concerned with the environmental impa
ct of construction projects. Owners can then donate reusable material from deconstruction jobs to a qualified non-profit organization and receive considerable tax breaks, depending on how much the donated material is worth. Almost all materials qualify for donation, including siding, roofing, windows, cabinets, working appliances, light fixtures, and more.
Diverting an entire dwelling of building materials from the landfill is certainly a good way to make a positive impact, as C&D waste accounts for 12% to 50% of the entire waste stream. While deconstruction is typically more expensive than traditional demolition, because it is far more labor intensive to take a building down piece by piece, to offset these additional costs, the property owner can donate the building materials to a qualified non-profit and receive a tax advantage for the charitable donation purposes.
In addition to the tax incentives and environmental benefits, deconstruction provides materials that can be reused in other construction projects at reduced costs. Deconstruction is a much greener option than simply dumping materials in a landfill, and you can also save on dumping costs, which can add up during a demolition project.
If the value of the materials is more than $5,000, the IRS requires that an appraisal be conducted by a certified appraiser. Owners need to make sure that the appraiser is certified and understands the process of deconstruction and deconstruction appraisal. Items must be listed in Section B of IRS form 8283. The owner needs to submit a donation receipt, the completed form 8283, and a copy of the qualified appraisal to the IRS to receive the tax benefits.
Categorias: Uncategorized
Tags: appraisals certified appraisals,
