If you’ve got real estate or real estate clients, you should know that the best way to reduce tax liability is by commissioning a cost segregation study. But should you do it before or after a rehab — or both? The IRS, in its 1999 memorandums, defined cost segregation by recognizing that a building consists
How often should cost segregation be applied to a building? And are annual updates required or necessary? Property owners ask this question on a regular basis. A good cost segregation study only needs to be applied once to a building and will calculate the annual depreciation for as long as you own it. However, always ensure that
Cost segregation provides property owners and investors with an invaluable tax-savings tool for accelerating depreciation. The IRS requires that an engineer prepare a cost segregation study to determine how property will be classified, so it is essential that your CPA firm works with a specialty tax services partner expert that has years of hands-on experience
The fifth generation of wireless technology, known as 5G, is being implemented across the country. 5G will enable the connection of 100 times more devices than 4G. It promises to revolutionize connectivity to support a host of technological advancements across many industries. It also will eliminate the need for data storage on devices, as everything
Has your tax advisor told you about hundreds of thousands of dollars you could save because of the 179D tax deduction? If you don’t know the facts, you can find out below. Who is Eligible for the Deduction? If you own a commercial building that was built (or substantially renovated) after January 1, 2006, you’ve
What if I already work with a different cost segregation provider? The difference is that the quality, data and procedures followed and detailed in our report yield more mileage. We are the only legitimate licensed engineering firm in the industry that has professionally licensed engineers on staff who have mechanical and structural expertise. Our firm
179D and 45L Energy Tax Incentives The Energy Policy Act of 2005, aka, 179D was enacted in late 2005 and recently extended through December 31, 2016. This incentive provides MANY taxpayers with deductions of up to $1.80 per square foot for new construction and renovations of commercial buildings. Even greater so are the architects and
The Final Tangible Property Regulations issued by the IRS greatly impact the treatment of costs that relate to building repairs, routine maintenance, retired or removed assets, and building improvements. These new regulations provide cash flow friendly practices that can help increase write-offs and reduce tax liability, but are also necessary to understand when applying for
Consider These Common What-IF Scenarios When Evaluating The Different Cost Segregation Providers What if you considered cost segregation studies in the past, but they were too expensive, with too little guidance for an accepted study? Times have changed. You can now consider a study with confidence. The fees have gone down for superior savings, the