If you’re a commercial landlord or tenant, here’s important advice:
Consider making and placing in service “qualified leasehold improvements” before midnight, December 31, 2013.
That’s right. The IRS is offering some really big tax deductions if you make approved improvements by the end of this year. Time is running out so you should consider getting started soon!
Want to find out more about how to take advantage of this valuable gift from Uncle Sam? Read my new article titled Tax Tips: Huge Tax Deductions for Landlords and Tenants, Last Call.
Three ways our fact-filled article can help you:
- We’ll explain what the IRS means by a “qualified leasehold improvement property.” This term refers to any 39-year real-property improvement to the interior portion of a commercial (not residential) building. Three conditions must be met and we’ll spell them out for you when you read the full article.
- We’ll list twelve key improvements that pass IRS muster. It’s worth checking out our new article for this information alone. You’ll be surprised (and pleased) by the kind of improvements allowed by the IRS! Get the whole story when you read the full article.
- We’ll tell you why it’s easy to get a huge tax break. For starters, you won’t have to conduct an expensive “cost segregation” study. When you make approved improvements, there’s no study needed and it’s easy to decide which improvements qualify for deductions. You’ll get the details when you read the full article.