Tax Planning Strategies 2013
Planning to make qualified leasehold improvements to property? Make sure your improvements are installed in the correct place or else you may not be eligible to depreciate the item over 15 years.
For example, in Chief Counsel Advice, the IRS found that an HVAC unit installed outside of a building or on the roof does not qualify as a leasehold improvement. It MUST be installed inside the building to qualify.
If you’re planning to make improvements to your property, contact the BPA to ensure you have a proper tax planning strategy in place.