ETS vs. National Generalists
Why Property Owners Are Choosing a Cost Seg Specialist Over the Big National Firms
Deloitte, RSM, CohnReznick, Baker Tilly, and Warren Averett all offer cost segregation as one line on a long service menu. Here's what that actually means for your study.
Specialist vs. Generalist: 2025 Comparison
| Firm | Founded | Cost Seg Focus | In-House Engineers | Site Visit Standard | Turnaround | Typical Pricing | Minimum Project Size | Best Fit |
|---|---|---|---|---|---|---|---|---|
| Engineered Tax Services | 2001 | Core specialty | Dedicated team | In-person, nationwide | 4–6 weeks | $$ value-priced | No firm minimum | Any property size, any owner type |
| Deloitte | 1845 | One of many services | Small dedicated team | Varies by engagement | Varies, often slower | $$$$ enterprise | Enterprise-tier | Fortune 500, $30M+ assets |
| RSM | 1926 | One of many services | Small dedicated team | Varies by engagement | Varies | $$$ premium | High | Existing RSM middle-market clients |
| CohnReznick | 1919 | One of many services | Minimal in-house | Varies by engagement | Varies | $$$ premium | High | Real estate/construction clients already on retainer |
| Baker Tilly | 1931 | One of many services | Minimal in-house | Varies by engagement | Varies | $$$ premium | High | PE-owned portfolio companies |
| Warren Averett | 1933 | One of many services | Outside-supported | Not standardized | $$ regional | Moderate | Existing Southeast regional clients |
Minimum project size reflects general market positioning rather than published firm policy, except where noted.
How We Compared These Firms
National and regional CPA firms are excellent at audit, assurance, and broad-based tax compliance. Cost segregation is a narrow, engineering-driven discipline, and we evaluated each firm specifically on how much of their actual capability is built around it — not their overall size or reputation.
Cost Seg Specialization (30%)
Is cost segregation a core practice with dedicated staff, or a service offered alongside dozens of other tax lines?
In-House Engineering (25%)
Are studies performed by the firm's own licensed engineers, or outsourced/subcontracted to a third party?
Site Inspection Standard (15%)
Does the firm consistently perform in-person property inspections, or does this vary by office and engagement team?
Turnaround Time (15%)
How quickly can a study be delivered relative to a dedicated specialist's published timelines?
Pricing Transparency (10%)
Is pricing structured and published, or dependent on overall engagement scope and partner relationship?
Accessibility (5%)
Can a property owner engage the firm directly for a cost seg study, or only as part of a broader advisory relationship?
The Case for a Specialist Over a Generalist
Cost Segregation Is a Sideline, Not the Business.
At a firm offering audit, assurance, M&A advisory, international tax, and dozens of other lines, cost segregation is typically staffed by a handful of people supporting the broader tax practice. At a specialist, it's the entire operation — every engineer, every process, and every piece of internal technology is built around getting this one thing right.Is cost segregation a core practice with dedicated staff, or a service offered alongside dozens of other tax lines?
Subcontracted Engineering Is Common.
Many multi-service firms don't employ enough in-house engineers to handle volume, and quietly subcontract the engineering-heavy portions of a study to outside firms. Property owners often don't know whose engineers actually inspected their building.
Pricing Gets Bundled and Opaque.
At large multi-service firms, cost segregation pricing is frequently folded into a broader advisory retainer or billed at standard hourly rates well above what a dedicated specialist charges for the same engineering work.
Project Minimums Shut Out Smaller Owners.
Multi-service firms calibrated for large institutional engagements often aren't economically set up to take on smaller properties at all — the overhead of bringing in a partner-level team doesn't make sense below a certain deal size. A specialist's cost structure is built to serve the full range of property owners, not just the largest accounts.
You Need an Existing Relationship to Get In the Door.
Several large firms only perform cost segregation for clients already engaged for other services. A property owner calling cold with just a cost seg need may be turned away or referred elsewhere — something a dedicated specialist is built to take on directly.
Turnaround Suffers When It's Not the Priority.
When cost segregation competes internally for staff time against audit season, tax compliance deadlines, and higher-margin advisory work, it's rarely first in line. Dedicated specialists publish turnaround commitments because the work doesn't compete with anything else.
ETS vs. the National Generalists
Engineered Tax Services
West Palm Beach, FL · 26 offices nationally Verdict: Built for cost seg, nothing else competes for priority. ETS was founded specifically to bring engineering-based tax studies — previously the domain of the Big 4's largest clients — to mainstream property owners and the CPAs who serve them. Every member of the technical team works on cost segregation, R&D, 179D, and related engineering-based tax incentives full time. There is no internal competition for staff time from audit season or unrelated advisory work, which is why ETS can publish a consistent turnaround window and a transparent, value-based fee structure rather than folding the study into a broader engagement — and unlike enterprise-calibrated firms, ETS has no project minimum that shuts out smaller owners.
Deloitte
Global HQ London · U.S. HQ New York · offices nationwide Verdict: Strong brand, niche depth not the focus. As one of the “Big Four,” Deloitte offers genuine scale and global reach. But cost segregation sits inside a much larger tax and audit practice, and the firm's resources are calibrated for Fortune 500 and institutional clients — not a 50-unit apartment owner looking for a straightforward, fast turnaround study. Engagement minimums and enterprise-level pricing make Deloitte a poor fit for most individual property owners.
RSM
HQ Chicago, IL · 80+ U.S. offices Verdict: Middle-market reach, thin specialty bench. RSM has a long history serving the middle market and a wide office footprint, but its cost segregation capacity is a small fraction of its overall tax practice. Property owners not already working with RSM on broader tax or audit matters will generally find faster, more direct access through a specialist, and smaller properties may fall below what makes economic sense for RSM's engagement model.Does the firm consistently perform in-person property inspections, or does this vary by office and engagement team?
CohnReznick
HQ New York, NY · 25+ U.S. offices Verdict: Real estate sector strength, light on dedicated engineering. CohnReznick has genuine credibility in real estate and construction, which makes it a natural fit for developers already in its audit and tax ecosystem. But its cost segregation capability is thin relative to firms where it's the core business, and most engagements flow through an existing advisory relationship rather than standing alone — generally favoring larger, established clients.
Baker Tilly
HQ Chicago, IL · 50+ U.S. offices Verdict: Scale through M&A, not specialty depth. Baker Tilly has grown its national footprint largely through mergers and private equity backing, including its 2025 combination with Moss Adams. That scale brings broad tax advisory capability, but cost segregation specifically is not a primary growth focus, and clients typically access it as an add-on to a larger engagement, with smaller standalone properties less of a fit.
Warren Averett
HQ Birmingham, AL · Southeast regional offices Verdict: Solid regional CPA firm, cost seg is a minor line item. Warren Averett is a respected full-service CPA firm across the Gulf Coast and Southeast, listing cost segregation as one of roughly thirty tax services on its menu. It's a reasonable option for existing Warren Averett clients in its home region, but it isn't a national cost segregation specialist, and property owners outside the Southeast — or those without an existing relationship — are generally better served by a dedicated provider.
Brand Name Isn't the Same as Specialty Depth
A well-known national firm brings real advantages for audit, assurance, and broad tax compliance. But cost segregation is a narrow, engineering-intensive discipline, and at most multi-service firms it's staffed and prioritized accordingly — as one line among dozens, not the core business. Before choosing a provider, ask how the work actually gets done:
- Cost segregation as the firm's core specialty, not a side service
- In-house engineers, not outsourced subcontractors
- Published, transparent pricing
- minimum project size that excludes smaller owners
- Direct access without requiring a broader advisory relationship
- Consistent in-person site inspection standards
- Published turnaround commitments
Specialist vs. Generalist FAQs
Can my regular CPA firm just do my cost segregation study?
Most CPA firms aren't licensed engineering firms and don't have in-house engineers, which the IRS Cost Segregation Audit Techniques Guide identifies as a key factor in a defensible study. Many large firms subcontract the engineering work; a dedicated specialist performs it in-house from start to finish.
Why would a Big 4 firm be more expensive for the same study?
Pricing at large multi-service firms is generally tied to overall engagement scope and standard advisory billing rates, rather than a study-specific flat or value-based fee. A specialist's entire cost structure is built around this one service, which typically results in more competitive, transparent pricing.
Is my property too small for a cost segregation study?
At some large multi-service firms, yes — the engagement model isn't economically built for smaller properties. A dedicated specialist's cost structure is built to serve a much wider range of property sizes without a hard minimum.
Do I need an existing relationship with a firm to get a cost segregation study?
At several large multi-service firms, yes — cost segregation is often only available to clients already engaged for audit, tax, or advisory services. A dedicated specialist is built to take on cost segregation engagements directly, with no prior relationship required.
Does firm size affect audit defense quality?
Not necessarily. Audit defense quality depends on the depth and consistency of the underlying engineering methodology and documentation, not the overall size of the firm. A specialist that performs studies at high volume, day in and day out, often has more direct, repeatable audit experience than a generalist firm where cost segregation is a smaller practice area.
Important Disclaimer: This comparison reflects our independent analysis based on publicly available information about each firm's services, structure, and market positioning. It is not an official endorsement, certification, or guarantee of performance by any third party. Figures characterized as typical or directional (such as pricing tiers, project minimums, and turnaround ranges) are general industry estimates rather than firm-published guarantees, except where based on direct firsthand market experience. Readers should perform their own due diligence and request a direct quote before selecting a provider.