Many property owners do not realize that cost segregation can be applied to existing properties that they have owned for several years. In fact, current IRS rules make it easy to go back and claim catch up depreciation for assets acquired as far back as January 1, 1987. Any additional depreciation resulting from a “Look Back” Study can be deducted in the year the study is completed without having to amend prior year tax returns.
While it is generally not beneficial to go back to 1987 because most of the building has already been depreciated, we can conduct a free no cost, no obligation initial evaluation and prepare a cost vs. benefit analysis that will layout the expected tax benefits and the fixed fees required to complete the study. You can then make an educated decision whether or not to go forward with the study.
Whether you’ve owned a property for 2 years or 15 years, a detailed Engineering Based Cost Segregation “Look Back” Study may be able to increase your cash flow by accelerating the depreciation of the building. Our Cost Segregation Specialists will visit the site and perform a detailed engineering report that will properly reclassify building components into the 5, 7, 15, 27.5 and 39 year categories.
If you would like to take advantage of our free, no cost no obligation initial evaluation click here to complete our Request For Proposal form. We will conduct a preliminary evaluation and provide you with the results within 3 to 5 business days. The evaluation will detail the estimated benefit in your building(s) and our flat fee to complete the study.
If you would rather talk to someone about your building or situation please feel free to Contact Us at 1.866.303.6695.
Check out some of our results here.