Cost Segregation Studies Now Crucial to Take Full Advantage of Additional Bonus Depreciation Benefits - 2020/2021

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When the CARES act was passed in March of 2020, the benefit of a cost segregation study increased significantly.

-Prior to the passage of the CARES Act, improvements to the interior portion of a nonresidential building (known as qualified improvement property) were required to be depreciated over 39 years.

-Under the new law, businesses may take advantage of bonus depreciation on property acquired and placed in service after September 27, 2017 and before January 1, 2023. Previously, only owners and investors who constructed or purchased new property were able to benefit from bonus depreciation. This is a significant and favorable benefit for owners/purchasers of used property.

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