HVAC
HVAC: the tax questions worth asking early
Install season, maintenance agreements, and manufacturer rebates create timing questions worth raising early.
Decisions that change the picture
- Selling annual maintenance agreements collected up front.
- Large equipment purchases and manufacturer rebates.
- Financing installs for customers through a third party.
Records worth keeping as you go
- Maintenance-agreement schedules showing what period they cover.
- Rebate and incentive statements.
- Financing settlement reports showing fees withheld.
Questions to bring to your tax pro
- How should prepaid maintenance agreements be handled for my method?
- Do rebates change the cost basis of equipment I install or resell?
- Are financing fees being captured as an expense in my books?
This guide is general information, not tax advice. Your tax professional decides what applies to your business and your filing.
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