Even if you are presently depreciating certain property in an accelerated manner, you may still be leaving money on the table.
COST SEGREGATION – PROPERLY RECLASSIFY BUILDING COMPONENTS
If you are a property owner of a newly constructed, purchased or renovated building, consider a cost segregation study to increase your 2013 near term cash flow. A thorough cost segregation study will allow for you to separate personal property or land improvements of your building into shorter class lives to reduce tax liability.
Property Components to be Reclassified:
- Site Improvements (landscaping/parking)
- Lighting Fixtures
- Branch Wiring
- Special Plumbing
- Millwork Window Coverings
- Partition Walls
- Wall Coverings
Additionally, properly segregated assets within a building will ensure you are not leaving money on the table for future renovations and abandonment deductions.
Engineered Tax Services provides the highest quality cost segregation study with full audit defense, professional insurance and comprehensive reporting. For more information on how you can reduce your 2013 tax liability, contact Engineered Tax Services at 800-236-6519 or e-mail us here.