Is Office Artwork Depreciable Property?

Many professional offices contain decorations (artwork, knickknacks, sculptures, memorabilia, etc.). Whether that office belongs to a Fortune 500 company, a professional services firm, or a family-owned business, some decorations are usually around to make customers feel comfortable and to give the business an air of success. Or they could be there just because the decorator said they were necessary. Whatever the reason, tax practitioners’ clients may ask whether the décor’s cost is depreciable for tax purposes. The tax practitioner likely will answer, “It depends.”