“Barbara, you did an outstanding job on every detail of my building and rental home. Working with you demonstrates how much you care about what you do and how you are on top of everything every step of the way. I am so thankful for your expertise and hard work.“ Mildred Barrett, Don McGill Toyota, owner
Now is the time for tax planning. Take advantage of the benefits NOW!
the 2018 TCJA implemented 100% bonus depreciation for 5, 7 & 15 year property, our cost segregation reports became even more valuable.
Below are the steps and the earlier we are involved, the better your outcome.
Steps for the Gold Standard Study: If renovations/repairs have been completed, our study will comprise of 3 parts. Our studies will be supplied to you and your CPA for your next IRS tax return. (for older properties, we will also complete the required 3115, change in accounting method for your CPA)
Once we provide you with a complimentary estimate and determine you qualify for the study then……
Step 1: A Fully Engineered, Construction & Accounted Cost Segregation Study, determining all cost associated with building will be performed. The cost segregation study will break out 5/7/15 year property, include 100% bonus depreciation if new construction and accelerate depreciation to offset income on your tax filings.
Step 2: We will determine which assets and the value of those assets to be abandoned/disposed to create a potentially significant additional benefit to be utilized inside your cost segregation study, accelerating the remaining life of that asset for your tax return, this is called “partial disposition” or “abandonment” studies.
Step 3: we will accelerate the depreciation on the new repairs/renovation
ABANDONMENT & IMPROVEMENTS: For renovations, we can “abandon/fully-dispose” the removed assets and accelerate the depreciation of the remaining life for that asset/s. For example: on a 39-year property IE (roof) we can accelerate the remaining life, abandon that disposed of asset and add a new cost segregation study to those renovated items.
REMOVABLE De Mountable DRYWALL SYSTEM: Our advanced tax construction technique using a removable and demountable drywall tape allows us to accelerate the depreciation of drywall and everything in and around that wall for tax benefits of $5-$20 p/SF.
ENERGY TAX DEDUCTION: Our niche engineering tax for energy efficient HVAC/envelope/lights drives benefits of $1.80 p/SF without amending the return.
We are here and ready to help, contact us today!