Cost segregation delivers income tax benefits for Dr. McCauley at Element Dental. I was honored recently to perform a site survey for Dr. Jonathan McCauley at Element Dental’s new office in Bryan, TX. It is super family- and kid-friendly with a warm and welcoming environment. The office is well-appointed and full of qualifying assets for…
Cost segregation delivers income tax credits for Gulfside Dental partners.
Cost segregation delivers income tax refund for the dentists at Fresh Dental. After meeting with Dentist partners at Fresh Dental in Bossier City, LA, I had the privilege of completing a site survey of the facility. They had heard from their CPA that cost segregation could help them out. It is a kid-friendly office with…
Bliss Dental Uses Cost Segregation to Accelerate Depreciation. At Bliss Dental the kids and family are treated like royalty! It’s a fun staff who knows how to take care of their patients. I had the pleasure of conducting a site survey on this facility and was impressed with the amount of tangible personal property within.…
Regardless of elections, year-end tax planning moves forward…with or without Congress. The fate of many of the tax incentives taxpayers have grown accustomed to over recent years will likely remain up in the air until Congress and the Administration finally face off weeks before year-end 2012. While the results of Election Day will have bearing…
As 2013 draws closer, news reports about “taxmageddon” and “taxpocalypse,” describing expiration of the Bush-era tax cuts, are proliferating. Many taxpayers are asking what they can do to prepare. The answer is to prepare early. September may seem too early to be discussing year-end tax planning, but the uncertainty over the Bush-era tax cuts, incentives…
What Methodology is Required by the IRS for Cost Segregation? Neither the Service nor any group or association of practitioners has established any requirements or standards for the preparation of cost segregation studies. The courts have addressed component depreciation, but have not specifically addressed the methodologies of cost segregation studies. The Service has addressed this…
The Cost Segregation Audit Techniques Guide was developed specifically to assist IRS examiners in their review and exam of cost segregation studies. It was NOT, as many believe, developed to help cost segregation firms, or the layperson, perform a cost segregation study. It’s primary goals are to help these examiners understand: why cost segregation studies…
A taxpayer may prepare cost segregation look-back studies on existing assets and re-calculate the depreciation for prior tax years based on the reclassified asset costs. The IRS-Approved process for a taxpayer to change accounting method is the timely filing of Form 3115 (Request for Change in Accounting Method). Per Rev. Proc. 2002-9, 2002-3 IRB 327,…
How do I calculate depreciation recapture? Let’s take a look at the process. 1) Review the original price paid for the asset being sold. For example, let us say you are selling a commercial property purchased eight years ago for $500,000. 2) Add the depreciation expense claimed each year you owned the property. Suppose, for…
If you own Commercial Property, including leasehold improvements or rental houses, that was damaged or destroyed by the recent natural disasters, we can help you maximize your Federal tax benefits, saving you tens of thousands of dollars. You must act now before rebuilding. FREE consultation and benefit analysis. It’s your money, why wait.
[cf7form cf7key=”disaster”]
A member of our Disaster Recovery Team will contact you within 48 hours to initiate your tax credit.
