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What have you learnt today?

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Damn, I am still trying to cope with the notion that today is Friday, not Saturday...
 
Qualified restaurant property (Code Sec. 168(e)(7)) and qualified retail improvement property (Code Sec. 168(e)(8)) do not qualify for bonus depreciation. Bonus depreciation (100 percent in 2011 and 50 percent in 2012 and 2013) may be claimed on qualified leasehold improvement property (Code Sec. 168(e)(6)).

But ....can bonus depreciation may be claimed on a restaurant improvement or retail improvement that also satisfies the definition of a leasehold improvement property?

US Tax code is easily the most complex of any code ever devised.
 
cgymike said:
Qualified restaurant property (Code Sec. 168(e)(7)) and qualified retail improvement property (Code Sec. 168(e)(8)) do not qualify for bonus depreciation. Bonus depreciation (100 percent in 2011 and 50 percent in 2012 and 2013) may be claimed on qualified leasehold improvement property (Code Sec. 168(e)(6)).

But ....can bonus depreciation may be claimed on a restaurant improvement or retail improvement that also satisfies the definition of a leasehold improvement property?

US Tax code is easily the most complex of any code ever devised.
Click to expand...

The problem would not be the plain logic of the matter, but whether they decide to apply their own rules. If something qualifies in one respect, the rest is irrelevant, unless it be explicitly stated that such and such properties do not apply for whatever under no circumstances whatsoever.
 
belamo said:
The problem would not be the plain logic of the matter, but whether they decide to apply their own rules. If something qualifies in one respect, the rest is irrelevant, unless it be explicitly stated that such and such properties do not apply for whatever under no circumstances whatsoever.
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But what if I am a US Limited Liability company opening up a restaurant in the subway of BCN? But the restaurant is not called Subway...but perhaps WeinerCity since euros love American stuff..

Can I claim the depreciation?
 
cgymike said:
But what if I am a US Limited Liability company opening up a restaurant in the subway of BCN? But the restaurant is not called Subway...but perhaps WeinerCity since euros love American stuff..

Can I claim the depreciation?
Click to expand...

Out of the frying pan into the BCN fire of senseless ruling: why would you want to do that to yourself. Although maybe, only maybe, the fact of being a foreigner would smooth things for you... or maybe not, if you are just as hobo as any other little Spanish entrepreneur :cool: :mrgreen:
And there are Subway... "restos"... in BCN like nothing. Weiner, let alone Wiener, would bring either more conflicting interests, or simply less appeal and popularity.
 
If everything goes smoothly with the documents I sent the other day, I probably will have to pay 25% of the total of the purchase I have been waiting for over three weeks... I just want the books, damn it.
I wonder what is their business in considering an import a mere private acquisition for personal enjoyment (they would never be able to ascertain why and what I am using the books for, anyway): giving underpaid and undermotivated people more useless work to do, and asking €100 for nothing?
Not to speak of the fact that everything has to go through Madrid, like Barcelona had no international airborne connections...
 
I can't stand the shows that the other day I said I might have been getting used to watching.
 
belamo said:
If everything goes smoothly with the documents I sent the other day, I probably will have to pay 25% of the total of the purchase I have been waiting for over three weeks... I just want the books, damn it.
I wonder what is their business in considering an import a mere private acquisition for personal enjoyment (they would never be able to ascertain why and what I am using the books for, anyway): giving underpaid and undermotivated people more useless work to do, and asking €100 for nothing?
Not to speak of the fact that everything has to go through Madrid, like Barcelona had no international airborne connections...
Click to expand...

You can thank Germany for all that and their stupid euro and the puppet France lapdog.

Franco is rolling in his grave.
 
cgymike said:
You can thank Germany for all that and their stupid euro and the puppet France lapdog.

Franco is rolling in his grave.
Click to expand...

Well, that same thing avoid me having to pass for the same [STRIKE]whenever[/STRIKE] all the times I have had more expensive books sent from Germany or the UK...
You will never avoid stupidity and evil, only have them under control and run more smoothly: it's exactly like with the more literal shit in our lives.
 
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