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Action Alert: Restaurant Tax Depreciation

Tuesday, November 20, 2018   (0 Comments)
Posted by: Katie Montgomery
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We need your help. A technical error in the 2017 tax reform bill has left improvements to your restaurant with a 39-year depreciation period, instead of the 15-years Congress intended it to be. We need this mistake fixed before a new Congress starts in January.


Click here to urge your lawmakers to fix this mistake before 2019

The Issue:
Congress intended to assign a 15-year depreciation period for restaurants in the Tax Cuts and Jobs Act of 2017, but there was a drafting error. Now, you are stuck with a 39-year depreciation period when making improvements to your business. And, you are now ineligible for bonus depreciation on items like kitchen equipment or furnishings.


The Solution:
This needed correction is known as the “Qualified Improvement Property” fix, or the QIP fix. While the Congressional Republicans and Democrats, the Joint Committee on Taxation, and the Treasury Department all agree this is a technical drafting error, and it does not cost anything to fix, we need Congress to prioritize fixing this issue before the end of this year.


What Can You Do?:
Click here to contact your legislators today. Tell your representatives to prioritize making a legislative fix to QIP before the end of this year.

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