Keven Moore: Politicians finally get something right in Washington — as it relates to safety

The Tax Cuts and Jobs Act was signed into law on Dec. 22, 2017, making it the nation’s most comprehensive reform of the U.S. tax code in more than 30 years.

But did you know that the tax reform bill also included a huge tax savings incentive to business and property owners that will undoubtedly save the lives of countless American workers and families?

Yes, that’s correct, just like anything coming out of Washington, you have to read the fine print to learn what else was added into any new piece of legislation. As it turns out, the Bill included particular language that directly affects the fire sprinkler industry – incentivizing business and property owners to retrofit their properties with new fire sprinkler systems.

Fire sprinklers have been saving lives for more than a century, but for years cost considerations have prevented many business and property owners from making this important investment to retrofit existing properties, wherever local and state codes haven’t already required such action.

Sprinklers systems are now included in Section 179 H.R. 1, which provides an important incentive to install fire sprinkler system which allows the cost of sprinkler retrofits to be deducted as a Section 179 expense. This tax-policy ... Continue Reading