With the passing of the CARES Act (Coronavirus Aid, Relief, and Economic Security) on March 27th, there’s never been a better time to retrofit or upgrade an existing fire sprinkler system in an existing commercial property. The CARES Act fixes a drafting error that omitted larger businesses from taking advantage of the tax incentives from the 2017 Tax Cuts and Jobs Act’s (TCJA).
There’s a major motivation for companies to act quickly, which can go a long way toward helping the fire sprinkler industry return to work and mitigate the financial impact of the pandemic. The ability to immediately write off the full cost of installing a sprinkler system in an existing building starts to phase out after 2022. The professionals at Mack Fire can help upgrade your building’s existing fire sprinkler system or retrofit it to give you the peace of mind that your building and those in it are safe in the event of a fire.