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 34 years to my college sweetheart, Janet Murphy (@janetmurphydesign on Instagram). Together we have 6 wonderful children from ages 15-31 and 5 grandchildren. I’ve been a licensed REALTOR since 2003 and broker since 2007. I also am a cost segregation specialist helping building owners and real estate investors maximize their tax deductions, save thousands on their income taxes and increase their cash flow. If you’re a building owner you probably haven’t done a study…let’s connect. There is no obligation. We can run an estimate for you and really every building should be evaluated if the basis is over $150,000. I can work all over the country and not just here in the Upstate. 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 eXp Realty LLC, Cost Segregation Services, Inc. or any other company, organization or group that I might be affiliated with.