Mold Remediation Services Can Be a Tax Deduction for Property Owners

When mold is found in buildings it often requires the services of professionals to identify and fix the root cause of the mold and to remediate the property back to healthy conditions. These essential services typically come with out of pocket expenses that can range from small expenditures to much larger expenses depending on the size and scope of the mold remediation project.

There is however some good news for property owners faced with a mold situation from he Internal Revenue Service (IRS). The unexpected cost associated with mold remediation was recently ruled by the IRS to be a tax deductible expense rather than capitalized expense. An important exception to this rule would be when the mold remediation work was part of a greater remodeling project that was occurring at the same time. So what is the difference between a tax deduction and a capitalized expense? Mold removal and remediation are considered to be ordinary and necessary business expenses, key requirements to be classified as a tax deduction. Mold remediation does not add value to the property. A tax deduction allows the building owner to take full advantage of deducting the entire expense during the tax year in which the expenses occurred.

A capitalized expense, on the other hand, is spread out over a number of years and thus gives less immediate tax relief to the property owner. Renovations that increase he value of the property are not considered ordinary and necessary business expenses and are thus treated differently under the tax code.

This ruling by the IRS is believed to be based on the fact that immediate mold removal is necessary for the health of occupants and is the only solution to bring the property back to an acceptable condition and protect the investment of the property. Asbestos, for example, is usually not treated under the same tax rules since asbestos can be treated in other manners, such as encapsulation which does not require removal.

“This important tax deduction recognition is an important step by the IRS, but as with any condition that may affect your tax situation be sure to check with a qualified tax professional to answer any questions you may have, ensure you qualify and to properly document the process for your tax records,” reported Michael Himelfarb, CEO of Global Prevention Services.

Global Prevention Services is one such company that has seen a significant increase in business from this favorable ruling by the IRS. The company provides a scientifically designed multi-step process that treats, cleans and prevents future growth on all of the appropriate building materials utilizing safe products that do not present a risk to occupants. The treatments are applied by highly trained specialists who understand the importance of treating the entire affected area. The entire process can be accomplished in a matter of hours or days for a fraction of the cost of other remediation services and the company is the only one backed by an extensive warranty provided by an AM Best A+ rated insurance company.

To learn more about the latest mold remediation and preventive services or to resolve your microbial issues please call 877.NoMold5 or visit www.NoMold.com.

What Does it Take to Grow Mold in Buildings?

Mold, for building owners it's one four letter word they seldom want to hear. Homes and buildings contaminated with mold and other biological contaminants can mean unhealthy conditions for occupants and a costly decrease in value for any infected properties. Many property owners faced with this challenge may wonder just how the mold got into the building from the start. To prevent and deal with mold we need to understand just how the microorganism grows.

Molds, or fungi, are microscopic organisms, which unlike plants that produce energy through photosynthesis; feed on organic materials to produce the energy they need to survive. This organic matter in buildings can come from normal interior dust and debris, paper on wallboard, wood studs and furniture, along with numerous other common building materials and components.Molds reproduce by creating spores that are released into the air and eventually deposit themselves onto surfaces. These same spores can be inhaled and cause illness in humans. Because these spores are airborne they can be deposited on building materials in the manufacturing process, during product transport or can enter buildings through vents, open doors and windows.

The final component needed for the mold spores to grow is water or elevated moisture levels. Since mold only needs 24 to 48 hours of moist conditions on most common building materials to begin to grow, it is imperative to prevent excessive moisture in the first place whenever possible. In the event of a moisture intrusion the area must be dried out completely as quickly as possible to prevent mold growth.

Most indoor environments provide the ideal atmosphere for mold growth as soon as moisture enters the environment. The simple steps required to prevent many mold problems from developing pay great dividends compared to the health concerns, disruptions and financial implications that occur after the fact. Fortunately, there exist today proven, cost effective and proactive preventive treatments that provide guaranteed protection against mold growth. “Molds, like all living organisms, have specific environmental needs before they will grow,” stated Paul Cochrane, Director of Public Relations for Global Prevention Services®. “Preventing situations where mold can multiply and become an issue should be the goal of all property managers and building owners.”

Global Prevention Services® has been providing building owners and property managers with information and proven proactive and remedial solutions to the persistent problem of mold in homes and commercial buildings. To learn more about how Global Prevention Services® can help prevent or resolve your microbial issues please call 877.NoMold5, email info@NoMold.com or visit www.NoMold.com to learn more.

Outdated Mold Remediation Technologies Often Mean High Price Tags

Water damage and elevated moisture levels can cause mold to quickly grow in almost any building. Buildings ranging from homes, schools, office buildings to hospitals and military bases have all been affected by mold growth and the unhealthy conditions that follow. A building owner or property manager faced with mold growth will need to have the property remediated and returned back to fit conditions for the both the health of the occupants and to maintain the financial equity in the property.

So if mold is found and needs to be remediated what is a building owner to do? There are many options available offered by specialized companies across the country. The remediation techniques used by these companies are diverse and range from simple demolition, removing and cleaning contaminated building materials, treating the structure with potentially dangerous levels of chlorine dioxide, heat treating the building, and in recent years utilizing special cleaning, mold neutralizing and mold prevention chemical and physical treatments.

The choices facing someone in need of these services can be confusing and the corresponding price tags can be all over the board. For example, a hospital in Oxnard, California recently chose to do a major mold remediation project at their facility utilizing chlorine dioxide gas that will cost the hospital approximately $150 million dollars. Other mold experts have recommended using a heat process to destroy the mold that would only cost $15 million. A huge savings, but still millions over what newer and less disruptive technologies can offer.

Innovative methods and products that alleviate mold-related health and financial risks are commercially available that provide a superior service, prevent future mold growth and offer a true performance warranty at a fraction of the cost of other mold remediation methods. All of this is available with the least disruption to occupants, no hazardous chemicals being used and a minimal timeframe to complete the process. One such company who has been on the forefront of utilizing these modern technologies is Global Prevention Services®.

Global Prevention Services® provides a scientifically designed multi-step process that treats, cleans and prevents future growth on all of the appropriate building materials utilizing safe products that do not present a risk to occupants. The treatments are applied by highly trained specialists who understand the importance of treating the entire affected area. The entire process can be accomplished in a matter of hours or days for a fraction of the cost of other remediation services and the company is the only one backed by an extensive warranty provided by an AM Best A+ rated insurance company.

To learn more about the latest mold remediation and preventive services or to resolve your microbial issues please call 877.NoMold5 or visit www.NoMold.com.

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