NBFAA Endorses Federal Bill Giving Tax Deductions for Security Purchases
The National Burglar and Fire Alarm Association (NBFAA) recently announced the association’s endorsement of federal legislation, H.R. 3632, which would provide a tax deduction for the installation of electronic security systems. The bill, called the “Secure America’s Homes and Businesses Act,” was introduced in the House of Representatives on July 29 and is now in the House Committee of Ways and Means.
According to NBFAA, H.R. 3632, introduced by Rep. Steven LaTourette (R-OH), would provide up to $5,000 for residential and $50,000 for commercial tax deductions for the purchase and the professional installation of electronic premise security devices. This would include electronic fire/life-safety systems; intrusion detection alarms; video surveillance equipment; access controls, including biometrics; and automated fingerprint identification systems.
This would also include the wiring, system displays, terminals and other equipment necessary for the installation of these devices and systems. The premise of the taxpayer can include any structure or property used for commercial or residential purposes.
If passed, the bill would go into effect on Dec. 31.
For more information, visit NBFAA’s Web site.
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