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CONSTRUCTION TAX PLANNING

A proactive approach to identifying tax benefits for commercial properties.

Our Pre-Construction tax planning service is the best way to ensure that you get the most benefit BEFORE construction begins. We will evaluate your project to ensure that you qualify for:

  • Federal Incentives for Energy Efficiency
  • State & Local Rebates and Incentives
  • LEED Commissioning
  • Proper Liability Insurance Coverage
  • Accelerated Depreciation on All Applicable Building Components
  • ….and more.

By understanding all requirements of these valuable tax incentives, and our staff including Architects, General Contractors, Engineers, and CPA’s evaluating the project, you will be able to secure millions of dollars in additional savings.

Examples of Property Components Qualifying for Accelerated Depreciation

Accelerated deductions are identified by analyzing costs and documenting their design and construction based on federal guidelines that define tangible property from the stages of a construction project.

Items to be considered for optimal benefits include:

  • Interior Walls (wall coverings, partitions, low walls)
  • Ceilings (decorative coverings, tin, wood…etc)
  • Flooring (removable, adhesive types, finishes)
  • Miscellaneous Finishes (chair rail, crown moulding)
  • Warehouse Applications (driver areas, walls)
  • HVAC, Plumbing & Electrical Systems (purpose & use)
  • Buildings Attached Assets (canopies, decks, flagpoles)
  • Typical Site Improvements (landscape, walks…etc)

Our ETS Construction Tax Planning engagement team will also analyze I.R.C. Sec. 174 embedded costs, indirect costs, and professional fees (soft costs) during the planning and design phases of a construction project allowing for an immediate tax deduction in the year the cost is incurred.

Getting ETS involved in the pre-design phase allows our subject matter experts to properly identify the materials and methods, direct and indirect, that maximize personal property and land improvements that qualify for accelerated depreciation deductions (i.e., 3, 5, 7, or 15 year personal property classifications).

Form 3115 is NOT filed as Construction Tax Planning is proactive and not reactive – no need to reclassify asset classifications as they are properly categorized when they are placed into service. This reduces IRS audit risk as Form 3115 is never filed; consequently, there is never an accounting method change.

If you are contemplating a new commercial project or renovation, please contact us to discuss Construction Tax Planning to ensure that your project takes advantage of every tax incentive that you deserve.

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