Business, Legal & Accounting Glossary
A tax saving strategy which enables individuals and companies who have purchased, expanded or remodeled real estate in an effort to increase cash flow by speeding up deductions or depreciation and deferring state and federal income taxes. The purpose of the strategy is to identify and classify costs of the project which are considered real property to a shorter, depreciable tax for the purposes of state and federal income taxes.
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This glossary post was last updated: 20th November, 2021 | 0 Views.