In one of our recent blogs, we shared with you how we were able to save Joey Milner a tremendous amount of money for his Denton, Texas Taco Casa location. Today, we would like to share with you how we, at Segregation Holding, was also able to help Joey with his 2nd Taco Casa location in Roanoke, Texas. Cost segregation is the process of identifying different property components that may be able to be reclassified as personal property and/or land improvements. When you reclassify these assets using accelerated depreciation, one may often be able to save a great deal of money. Not only will you be able to save on your income taxes but it will also increase your cash flow! Let’s take a look at how our team of professional engineers were able to help Joey Milner with his Taco Casa once again.
Taco Casa, located in Roanoke, Texas, is a new construction project. New construction is often the best time to take advantage of the savings that a cost segregation study can produce. At first glance, our original benchmark estimate showed an income tax credit of $38,436 for 2013. This included an accelerated depreciation of 15% on all qualifying 5-year assets and an accelerated depreciation of 10% on all qualifying 15-year assets. Needless to say, Joey Milner was thrilled with our estimate for his Taco Casa and asked us to proceed with the cost segregation study. After our engineer completed the Taco Casa site survey, he went back to the office and began the complicated number crunching process. It was during this time that we were able to uncover even more tax savings for Taco Casa Roanoke.
Our actual results showed an accelerated depreciation of 19.3 % on all 5-year assets and a whopping 24% on all 15-year assets. This resulted in an income tax credit of $55,983 for the 2013 year for his Taco Casa. Additionally, we were also able to show additional savings of $28,000 that would be applied for the period of 2013-2017. In combination with the results we produced for Joey’s other Taco Casa location, Joey was thrilled with the savings. A cost segregation study done by Segregation Holding was able to again put more money in his pocket! In fact, Joey is now convinced we should do cost segregation for all of his Taco Casa locations!
Do you own a profitable business like Joey’s Taco Casa? Would you like to be able to find a way to lower your income tax burden as well as increase your cash flow? Did you know that we offer a free quote and there is absolutely NO OBLIGATION!
Why not contact us today and see how we can help your business using cost segregation.
Contact us at 972-897-8019 or 443-Cost-Seg!