The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) corrected the recovery period of Qualified Improvement Property (QIP) to 15 years. This has tremendous implications and will play a large role in a modern comprehensive tax strategy. In this session, we will examine the historical treatment of Qualified Property Categories and focus on the current status of QIP under the CARES Act. We will also explore other strategies that may be part of a comprehensive tax strategy and will discuss a strategic hierarchy for employing those strategies most successfully. Relevant Rev. Procs. and several real-life case studies will be reviewed.
As a founding partner at Capstan Tax Strategies, Bruce Johnson works closely with commercial real estate owners, investors, and accounting firms to provide practical, creative, and client-specific solutions. Bruce is well-versed in engineering-based tax strategies, guiding clients through the long-established benefits of cost segregation while introducing the new opportunities now possible under the TCJA and the CARES Act. Bruce has a particular interest in energy-efficient building incentives and sustainability. He has earned the Association of Energy Engineers’ CEM credential, which testifies to both his proficiency and integrity. As an engineer with significant experience in cost segregation, energy consulting, and capital improvement projects, Bruce understands the importance of leveraging fixed assets to enhance cash flow and meet business needs.