- Definition: F, F & E
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Furniture Fixtures and Equipment. This category of building costs is subject to various interpretations but typically includes only non-permanent parts of the property. Since tax laws allows monies spent on F, F & E to be depreciated much faster than on “leasehold expenditures” (permanent improvements to property), most retailers try to categorize as much of their building costs as possible under this heading. On the other hand, anything permanently attached to the building such as wall shelving, lighting, and carpeting can be considered as leasehold improvements by the local tax assessor and also become landlord’s property upon lease expiration. Hence the “gray area."
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