Optimize Your Depreciation

Optimize your depreciation by taking advantage of the annual $24,000 expensing election. This election allows you to elect to expense up to $24,000 of assets purchased during the tax year. For example, design new cabinetry and shelving so that it is removable. This will convert it from the leasehold improvement category (39 years) to the more advantageous furniture category (7 years).