CARES Act 2020 – Install a New System and Save with a Tax Deduction

The CARES (Coronavirus Act, Relief and Economic Security) Act allows companies to take a tax deduction* year one when they install and put a qualifying life safety system in service.

In the past, the depreciation had to be taken over a thirty-nine (39) year period. Taking the tax benefit now can reduce your overall cost of equipment and installation. 

BENEFITS OF CARES ACT

Benefit 1: Take 100% depreciation year 1 for full equipment & installation cost
Benefit 2: There is no cap to the cost of the equipment and labor
Benefit 3: Deduction can be taken all the way back to the beginning of 2018

SYSTEMS THAT QUALIFY

  • Sprinkler Systems
  • Fire Alarm Systems
  • Special Hazards/ Clean Agent Systems

Now is the time to talk to your tax professional to find out if your business qualifies for the tax deduction. If so, we are here to help. 

*Always consult your tax advisor to confirm your project and/or building qualifies for this tax benefit.

5 Key Components of a Well-Designed Fire Protection System

One of the essential components of running a successful business is ensuring that your employees and the place they work is as safe and secure as possible. A major part of that is preparing for the things that haven’t happened yet or may occur in the future. That includes fires.

For a lot of people, fire protection system design is like learning a totally different language. So today, we’re going to drill it down into a few easy to understand components. That way when you’re speaking with your fire safety pro and/or contractors, you’ll have a guidepost as to what should be in a project, why certain aspects are included or not included, and a better overall awareness of the project.

Good decisions are almost always well-informed ones, so that’s why we’re here today. Here are the five secrets to success in fire protection systems.

Codes and Compliance

The first thing you’ll need to get a general grasp of are your local fire codes and the rules and regulations that you’ll have to abide by. This basically means that you’ll need to meet a minimum legal requirement for your specific building based on your building’s needs. This is a crucial aspect of the process, so make sure you spend the time getting to know the ropes before you put money down on a new system.

Detection Devices

Any good system should provide you with a means to detect the fire. The range of devices and technology in these detection devices has never been so comprehensive. Certain detectors can even differentiate between threat levels and can couple alarms to help audibly signal that there’s danger, but specifically – what kind of danger there might be.

Alarms and Notifications

Simply put, alarms notify people in your building that there might be an issue. Just as important, they notify emergency personnel so that they can respond as quickly as possible. These systems can also be used to convey messages – such as where emergency responders will be most needed, or even voice commands that can notify people where they can find exits. In specific situations, these systems can also be hooked up to a building’s ventilation system to help clear the room of smoke.

Fire Suppression

Whenever an alarm is triggered in a commercial building, it’ll trigger a suppression system that can help contain the fire until it can be extinguished. It also helps the fire from spreading too quickly and gives people a better chance of getting out safely. A sprinkler is perhaps the most common, but you can also choose from certain kinds of chemicals as well.

Maintenance

Regardless of what your plan might be, you should always make sure it is being routinely inspected. Nothing works well if you don’t take care of it, and fire suppression systems are no exception. Make sure your equipment is inspected by a certified fire safety professional at least once a year.

If you have any questions about your facility and what kind of design elements you need, please contact Protegis Fire & Safety.