Open-Air Parking Structures: Land Improvement or Building?

There has been much debate over the years concerning open-air parking structures and whether the structure, for depreciation purposes, should be depreciated as 39-year nonresidential real property or 15-year land improvements. The Internal Revenue Service Large and...

The Complex World of Machinery, Equipment, Production

The average passenger automobile has over 30,000 individual parts, a modern 747 has over 6 million parts, and the now retired NASA space shuttle contained over 2.5 million moving parts. It is impossible to calculate the combined labor, materials, logistics, research...

Proper Component Depreciation of Acquired Real Property

A proper understanding of the depreciation of building components and site improvements of acquired properties is key to developing a qualified cost segregation study and limiting unwanted audit exposure. The IRS Cost Segregation Audit Techniques Guide (IRS Cost...