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Cost Segregation is a proven tax planning strategy that allows commercial property owners to accelerate depreciation deductions and defer tax payments. A taxpayer can use Cost Segregation when constructing a building or when buying an existing one. It can even be used if a structure was constructed or acquired several years earlier.
For maximum tax benefits, the IRS requires a specialized engineering firm to perform a Cost Segregation Study utilizing the Detailed Engineering Approach. Until the last few years, only Fortune 500 caliber companies could afford the benefits of engineering-based Cost Segregation through the costly services of their advisors. Tax Recourse, LLC. works with outside engineering specialists and has negotiated favorable fees to enable us to pass this reduced fee onto our clients.
The key benefits of cost segregation are as follows:
Substantial Reduction in tax liabilities sometimes hundreds of thousands of dollars
Immediate increased cash flow through accelerated depreciation
Correct misclassified assets and provide an opportunity to claim missed "catch up depreciation" from prior years in the current year
Renovations, remodeling and replacement will be less costly due to detailed breakdown of building components
Real estate property taxes may be reduced
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