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References in periodicals archive ?
Failure to properly depreciate qualified real property over 15 years puts other 15-year property at risk for reclassification to longer recovery periods (see "Confusion Over Qualified Leasehold Improvements May Create Opportunity," by Chris Atwell, RSM, available at tinyurl.
168(k)(2), removing qualified leasehold improvements from the definition and replacing that category with qualified improvement property.
What the temporary regulations did clarify (which has been the rule since 1986) is that a taxpayer must amortize leasehold improvements under the cost recovery provisions of the Internal Revenue Code applicable to the improvements without regard to the term of the lease.
Owner put over $400,000 into leasehold improvements furniture, fixtures and equipment.
Permanent federal law requires leasehold improvements to be depreciated over a 39-year period.
Leasehold improvements placed in service (or contemplated) at or near the beginning of the lease term are generally amortized on a straight-line basis over the shorter of the estimated useful life of the assets or the lease term.
said the restatement was necessary because it had incorrectly calculated the amortization of certain leasehold improvements.
15-year recovery period for qualified leasehold improvements and qualified restaurant property;
small businesses, including an extension of Section 179 expensing, which will allow small businesses to immediately expense up to $100,000 of new investments through 2007; a reduction of the depreciation period for restaurants and leasehold improvements from 39 years to 15 years; and S-Corporation reform and simplification.
If your company doesn't require a loan or other financing to construct its initial leasehold improvements, you should nonetheless make every effort to negotiate a financeable ground lease in order to give you sufficient flexibility to use its leasehold interest and leasehold improvements to obtain financing at a later date.
Chairman, House Committee on Ways and Means, would extend the bonus depreciation through 2005 and lower from 39 years to 20 the depreciable life for leasehold improvements.
Bird claims he had invested $100,000 in leasehold improvements into the hangar.