MACRS – Modified Accelerated Cost Recovery System is a recovery systems that uses 3, 5, 7, & 10 year recovery periods for business equipment, 15 year recovery period for land improvements, 27.5 year recovery period for residential rental property, and 39 year recovery period for commercial property.
Can cost segregation still be performed on a property even if it was purchased in a prior year?
Cost segregation is a powerful tax-saving tool, and while it’s commonly used on newly acquired properties, it’s not limited to new purchases. If you’ve owned