We have wonderful news for businesses regarding fire safety and installing Houston fire sprinklers. Thanks to the National Fire Sprinkler Association, small businesses will be able to afford to outfit their buildings with proper fire sprinkler coverage. This addition was part of the national tax reform legislation that recently passed.
This provision was actually filed 15 years ago in 2003 after the tragic Station Nightclub fire that happened in Rhode Island. This tragedy could have turned out differently had a fire sprinkler system been installed. The overwhelming amount of flames, smoke, and heat from the incident is what took the lives of those who perished in the fire.
Here’s what you need to know about the safety provision that is now in place regarding businesses and sprinkler systems:
- Small business owners are now eligible to totally expense the cost of installation for Houston fire sprinklers up to one million dollars for each year of expense. Not only will small business be able to outfit their buildings with proper Houston fire sprinklers, but those who have older systems will be able to upgrade. This also means that small businesses will not need to worry about paying the interest on loans used for this project since the interest can be fully deducted.
- Owners of large corporations will also benefit from this bill. Large entities will be able to fully expense all of their capital expenses between now and the next five years. After 5 years, starting in 2023, the amount that can be expensed will begin to lower.
- This is giving fire chiefs and officials hope that more businesses will take the plunge and properly outfit their building with fire protection equipment.
Why Don’t More Businesses Have Proper Fire Protection Equipment in Place?
The reasoning behind some business owners’ thought process is that Houston fire sprinklers aren’t reliable and can malfunction, among various other excuses. The truth couldn’t be further from these assumptions. For starters, it’s extremely rare that a Houston fire sprinkler system malfunctions. Generally speaking, you have a greater chance of your plumbing system leaking than your sprinkler system leaking. Fire Sprinklers also extinguish fires faster and use less water than it would take for firefighters to extinguish the fire. That means that damage will be minimal as well.
For further questions, price quotes, and custom design options give Advantage a call. We’d love to talk through your concerns with you and help create a custom system that will work for your business size and type.