Understanding Tax Implications for Tenant Improvements / Qualified Improvement Property (QIP)
Commercial property owners often will have all kinds of expenditures when it comes to making improvements for tenants. Do those costs get capitalized? Do they get expensed? What kinds of improvements qualify for Qualified Improvement Property (QIP)?
Here are two very helpful articles on the subject.
What is Qualified Leasehold Improvement Property?
If you own a building and have not had your building or your improvement studied yet for tax savings, please reach out and we’ll be happy to provide you with a quote for an engineering-based cost segregation study.
About The Author
John Murphy
Husband of 36 years to my college sweetheart, Janet Murphy (@janetmurphydesign on Instagram). Together we have 6 wonderful children from ages 18-34 and 6 grandchildren. My main work is helping commercial building owners and real estate investors save money on their income taxes by doing cost segregation. I work all over the U.S. but have a lot of clients here in SC and in the southeast in particular. The firm I represent is CSSI, LLC. I love the work! I’ve also been a licensed REALTOR since 2003 and broker since 2007 but my work is limited to just a few clients each year. We relocated to Greenville, SC for the lifestyle, lower cost of living, amazing amenities in the area and the growth opportunity for business and real estate. We absolutely love it here!
All opinions are expressly my own and do not represent either CSSI, LLC or eXp Realty LLC or any other company, organization or group that I might be affiliated with.