What Information Needs To Be Collected For A Cost Segregation Study?
Maximize the technical accuracy of your study.
by Engineered Tax Services
There are many steps in the Cost Segregation study process. A company, commercial property owner or investor that decides to move forward reallocating their assets to see if they qualify for tax benefits of a Cost Segregation Study will have a detailed process ahead of them.
To start the first and most crucial step in that process, that we will discuss, is the information that needs to be collected for the study.
Information Collection Process of Cost Segregation
The initial information request allows the cost segregation specialists and engineers to generate an estimate of the benefits a study may yield. It will also determine the cost, scope and projected timeline of the Cost Segregation study.
The type of information needed will vary depending on whether the property already exists or will be constructed in the future.
General Project Information
In the first meeting before a cost segregation project begins, general information collected such as:
New Construction & Improvements Cost Segregation Information
The below bullet point list is specific information a cost segregation specialist will request for a new construction or improvement Cost Segregation project.
Purchase and Acquisition Cost Segregation Information
As you can see their many documents that need to be obtained to begin a detailed and thorough cost segregation study. Providing as much of the information listed above will help maximize the technical accuracy of your study.
If you're a company or individual seeking expert advice on Cost Segregation, look no further than Engineered Tax Services.
Our team of engineers, CPAs, and cost segregation experts are here to assist and provide you with most up-to-date information on accounting rules and tax updates during the process of utilizing this strategic tax tool for real estate.