We know Christmas is fast approaching and everyone is in the Holiday Spirit! We don't mean to crush your spirit by bringing up taxes BUT this is a great time to start strategizing your goals for next year. We wanted to share a little insight into the income tax benefit that can be derived through accelerated depreciation, utilizing what is called a Qualified Improvement Property. Qualified Improvement Property is defined as any improvement made to the interior of a nonresidential building after the building is placed in service. We know so many clients that would LOVE to renovate their office space or commercial building, and that comes with expense. We wanted to share that utilizing our services to reimagine and renovate your existing building COULD qualify that building as a QIP and therefore unlock potential leverage with expedited depreciation of that property. We are not a lot of things and Tax Specialists is at the top of this list! but we are business owners and we know that as business owners you make decisions based on how that decision will affect your bottom line, this year, next year and the next. We also know the value of great contacts and working with the right people. We especially know how much of a return a well executed renovation can bring to your investment initially in enhanced performance and long term to the value of the building. If this is something that interests you we would love to talk more about your potential project and would be glad to point you to a financial specialist that can answer all of the questions I am sure you now have. ??
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