Qualified Improvement Property Depreciation

Earlier this year, Congress finally passed legislation that corrects a drafting error related to real estate qualified improvement property (QIP). The correction is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The correction retroactively allows real property owners to depreciate QIP faster than before, either 100% the

2021-08-17T17:12:08-06:00November 3rd, 2020|

Rules of Deducting Business Losses

Sole proprietorships and pass-through entity structures, which include partnerships, S corporations and certain limited liability companies (LLCs), provide owners with some valuable tax benefits, such as avoidance of double taxation and the potential ability to deduct losses from the business on their individual tax returns. However, the Tax Cuts and

2021-04-12T14:54:39-06:00November 5th, 2019|
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