Do you own a profitable restaurant and would like to increase your cash flow as well as lower your federal income tax burden? Of course you would, and did you know that a cost segregation study can help you to do just that. Generally speaking a cost segregation study is the process of identifying assets…
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…
– What If You Want to Sell an Occupied Commercial Real Estate Building? -? Many commercial real estate agents have been faced with the unique challenge of showing potential purchasers an operating business in a commercial real estate complex without raising the suspicions of the customers or employees. If everyone involved knows their role ahead…
Deducting charitable contributions is quite often tricky, but the eight essentials shared below will guide you. Donations made to qualified organizations may help reduce the amount of tax you pay. With that in mind, here are eight tips to help ensure your charitable contributions pay off on your tax return. 1. If your goal is…
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…
Over the past 5 years, the commercial real estate insurance industry has been faced with substantial increases in both mold-related claims and payout amounts due to these claims. Mold is the fastest growing risk management problem in the U.S. This has caused almost all insurance companies (both property and liability) to exclude insurance coverage due…
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,…
Cost segregation services benefit commercial property owners in many ways. How you ask? Well, let’s look at a brief list: 1) Cost segregation accelerates depreciation 2) Cost segregation reduces income tax burden 3) Cost segregation increases cash flow 4) Cost segregation reduces real estate taxes 5) Cost segregation reduces property insurance premiums 6) Cost segregation…
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.
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A member of our Disaster Recovery Team will contact you within 48 hours to initiate your tax credit.
