This Is Where the Conversation Changes By Rich Arzaga, CFP®, CCIM , The Real Estate Whisperer® When clients discover missed depreciation, they expect a compliance discussion. What they don’t expect to hear is this: “This may actually create an opportunity.” If you’re unfamiliar with how missed depreciation arises — or why the IRS treats “allowed or allowable” depreciation the way it does — start with the foundation before thinking strategically . Once the issue is identified