Five Critical Items You Need to Review Before Filing Your Depreciation Deductions

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  • Kim Foren
    Investor · El Paso Texas · Member since 2019 · 1 post · 0 votes
    4y

    Love this! Thank you. Is bonus depreciation essentially the same thing as cost segregation?

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    • Natalie KolodijBusiness Member
      Moderator
      Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes
      4y

      They're different.

      Bonus depreciation relates to a current tax code that allows assets with lives of <20 years to be expensed year 1.

      Cost segregation break out compotents of a building into smaller parts (flooring, windows ect) which allow them to qualify for bonus depreciation.

      With out cost seg a building's life is 27.5 or 39 if commercial and wouldn't qualify

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