Why let the IRS hold your money? Cost segregation is an accounting practice that lets owners of commercial property break out improvements above and beyond the minimimal required features, and depreciate these improvements at a much faster pace. This improves cash flow by deferring income taxes through faster depreciation. Past years' accelerated depreciation can be made up on the next tax year's filing. There are no amended tax returns to take advantage of cost segregation.
Even if you are utilizing cost segregation already, you are very likely not taking full advantage of its benefits. Many CPA's utilize "Cost Segregation Lite" which breaks out many of the most obvious improvements such as carpet, tile, etc. If you don't have an engineering report to support your cost segregation, then you are not maximizing your potential benefit. What's more, if you are audited for any reason, you are put into the defensive position of proving that your CPA did the cost segregation properly. If you have the engineering report to support your cost segregation, then the IRS is put in the position of having to disprove any of your claims.
Typically, the benefit to cost ratio for cost segregation is in the range of 10-12 to 1. We begin with a free initial assessment and a proposal that identifies the cost to perform the study and the estimated benefits so you can make an informed decision. Contact us at 770.846.8593 to get more information about cost segregation and how it can benefit you.
We offer a free Webinar on Cost Segregation that can earn CPA's 1 free CPE credit. Check the Webinar schedule and register for this free Webinar by clicking on the link below:
For Free Webinar Schedule and to Register Click on Link Below:
