**** In 2020 now an s-corp, the remaining $50k I paid on finishing the construction was similarly paid from my corporate bank account and my CPA recorded it as "improvements" as a fixed asset. As an S-Corp now, Is this 2020 accounting incorrect? if so what is the correct way to account for this expense?****
As long as the improvement is its own fixed asset account with a sub account for accum depreciation and the costs of the work is posted to that account, it is fine.
There is no expense to account for, what you are thinking of is an asset not an expense.