Office renovation
$5,000-$200,000
Can You Write Off Office Renovation?
Short answer: Repairs are deductible now; improvements are depreciated, but interior improvements to commercial space can often be expensed with bonus depreciation.
Qualified improvement property has a 15-year life eligible for 100% bonus depreciation.
Records to keep: Keep receipts or invoices, proof of payment, and a short note of the business purpose.
Office renovation
Typical range: $5,000-$200,000
General Business
Repairs are deductible now; improvements are depreciated, but interior improvements to commercial space can often be expensed with bonus depreciation.
Business justification
Repairs are deductible now; improvements are depreciated, but interior improvements to commercial space can often be expensed with bonus depreciation. Qualified improvement property has a 15-year life eligible for 100% bonus depreciation.
Category
- Business Write-Off Questions