I watched a one hour mid-year tax update webcast by Gary McBride today mostly about the TCJA. They talked about the tax correction that's required to get QIP from a 39 year life to a 15 year life. They didn't sound too hopeful that there are 60 votes available in Congress to get that done. I sent in a question asking if the QIP as it currently stands qualifies for code section 179 expense. McBride couldn't answer off hand but came back with a yes, he believes it does. I have a restaurant client who started their build-out in mid 2017 and completed it in mid 2018, so it make a difference to them. Please let me know you thoughts.
13-Jul-2018 6:04pm
