Renovation Write-off
Due to new Temporary Regs released under 263(a), if you made renovations to a building within the last 10 years you may now write-off components that were removed (this could include things like an old roof, old lighting, etc.). You may do this by using Form 3115, Application for Change in Accounting Method.
There are, however, some rules that apply. If you have any questions or would like further information regarding this write-off opportunity, contact your H&S tax professional.