Tax principals Neil Keller, CPA, and Tracy Burkhart, CPA, recently shared a significant new tax planning opportunity for manufacturers with Crain’s Cleveland Business that could improve cash flow and create reinvestment opportunities. Qualified production property (QPP) allows businesses to immediately deduct 100% of eligible production facility costs rather than depreciating qualifying building costs over 39 years, potentially unlocking substantial cash flow that can be reinvested in operations, equipment or expansion. To realize these benefits, however, businesses must understand and navigate specific requirements related to timing, eligible space, ownership structures and continued qualifying use.
Read the full article: https://www.crainscleveland.com/crains-content-studio/thought-leader-report/ccl-manufacturing-tax-deduction-qpp/
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