In January, Congress extended some depreciation-related tax breaks that can benefit owners of leasehold, restaurant and retail properties:<\/p>\n
50% bonus depreciation<\/em><\/b><\/em>.<\/strong> Congress extended this additional first-year depreciation allowance to qualifying leasehold improvements made in 2013. The break begins to phase out dollar-for-dollar when total asset acquisitions for the tax year exceed $2 million. Roe CPA, Atlanta, GA<\/p>\n","protected":false},"excerpt":{"rendered":" In January, Congress extended some depreciation-related tax breaks that can benefit owners of leasehold, restaurant and retail properties: 50% bonus depreciation. Congress extended this additional first-year depreciation allowance to qualifying leasehold improvements made in 2013. Section 179 expensing. Congress revived through 2013 the election to deduct under Sec. 179 (rather than depreciate over a number […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[4,3],"tags":[],"class_list":{"0":"post-21","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-accounting","7":"category-tax","8":"entry"},"_links":{"self":[{"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/posts\/21","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/comments?post=21"}],"version-history":[{"count":1,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/posts\/21\/revisions"}],"predecessor-version":[{"id":22,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/posts\/21\/revisions\/22"}],"wp:attachment":[{"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/media?parent=21"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/categories?post=21"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.roecpa.com\/blog\/wp-json\/wp\/v2\/tags?post=21"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n
\n<\/i>Section 179 expensing<\/em><\/b><\/em>.<\/strong> Congress revived through 2013 the election to deduct under Sec. 179 (rather than depreciate over a number of years) up to $250,000 of qualified leasehold-improvement, restaurant and retail-improvement property.<\/p>\n
\n
\n<\/i>Accelerated depreciation<\/em><\/b><\/em>.<\/strong> Congress revived through 2013 the break allowing a shortened recovery period of 15 \u2014 rather than 39 \u2014 years for qualified leasehold-improvement, restaurant and retail-improvement property.
\nIf you\u2019re anticipating investments in qualified property, you may want to make them this year to take advantage of these depreciation-related breaks while they\u2019re available. It\u2019s currently uncertain whether they\u2019ll be extended to 2014.<\/p>\n