Timing is Everything: New Rev. Proc. Clarifies Timeline Regarding QIP Eligibility We love Qualified Improvement Property (QIP). And what’s not to love? This new classification of building improvements is the key to lucrative bonus depreciation, and doesn’t have to be made subject to a lease like Qualified Leasehold Improvements. Plus, the definition of QIP is […]
Broad Definition of Qualified Improvement Property Expands Availability of Bonus Depreciation
QIP is the New VIP: Broad Definition of Qualified Improvement Property Expands Availability of Bonus Depreciation The PATH (Protecting Americans Against Tax Hikes) Act of 2015 extended bonus depreciation for a record five years. This was indeed very big news, and it’s not surprising that it made a very big splash in the world of […]