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IRS audits
On June 1st, 2022, the IRS published the latest edition of the Cost Segregation Audit Technique Guide (ATG). The Cost Segregation Audit Technique Guide (ATG) aids IRS examiners during audits by providing: ·       Technical Information ·       Examination Techniques ·       What to look for when reviewing cost...
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Cost Savings Visual For Cost Segregation Study in 2022
Don’t Miss Out On A Cost Segregation Study This Year! 2022 is the Final Year to Get 100% Bonus Depreciation. On January 1, 2023, the bonus depreciation rate will be changed to 80%, after that it will be phased out by 20% each year. The Tax Cuts & Jobs Act of 2017 (TCJA) was the...
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Should I worry if I am audited? Like other tax records, cost segregation studies are subject to IRS audits.  Therefore, it is essential to start with an engineered cost segregation study. Some people worry that having a cost segregation study will trigger an audit, but that isn’t the case. And often, your cost segregation study...
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Some companies will try to save money by having cost segregation studies performed in-house by company employees rather than a professional in the industry. Unfortunately, this comes with a significant drawback—In-house studies are often viewed with more scrutiny by the IRS Boddie-Noell Enterprises, Inc. v. the United States[1] In 1996 Boddie-Noel Enterprises, Inc. sued the...
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