Real Estate Investor Tax Extender Act

Last week the House approved what's known as the Tax Extender Act, a "before the end of the year" bill filled with nearly 50 tax program extensions beyond their December 31st scheduled expiration date. Two of the extenders are especially significant for investment real estate: First is the so-called "leasehold improvements" provision, which allows owners of commercial, retail, hotel and office buildings (large and small) to use an accelerated 15-year depreciation schedule in writing off renovations and upgrades they make to their real estate.