100% Bonus Depreciation is changing after the 2022 tax year. It will be reduced in 2023 to 80%2024 to 60% 2025 to 40%2026 to 20% 0% bonus depreciation in 2027 That is if nothing is changed in the coming years. Cost Segregation Studies are Still Beneficial Although bonus depreciation is being reduced, it does not reduce the...Read More
What is Qualified Leasehold Improvement Property Bonus depreciation is one method of accelerated depreciation, often called a “special depreciation allowance,” by the IRS. The IRS defines qualified Improvement Property (QIP) as any improvement made by the taxpayer to an interior portion of a nonresidential real property building. Such modification is placed in service after the...Read More