Cost Segregation for Commercial Property Q&A: Increase Your Cash Flow
Organization:
NorCal Valuation
Category:
Business
Geographical Area:
San Jose
Start
Date:
2/9/2017
End Date:
2/9/2017
Start Time:
3:00 PM
End Time:
4:00 PM
Event
Info:
Commercial cost segregation expert Gil Mitchell will answer your questions about cost segregation studies for commercial properties: office complexes, retail facilities, dental & vision centers as well l as apartment buildings and hotels.
This event is for property owners as well as CPAs, commercial real estate brokers and financial planners who will get valuable information on how cost segregation studies can help their clients. Cost Segregation Studies benefit almost everyone who owns Income-Producing Property: facilities such as financial institutions, office buildings, hotels & restaurants, retail stores, apartment complexes and shopping centers as well as manufacturing plants, industrial parks and research labs.
Cost Segregation analyzes property costs to segregate allowable short life assets from longer life Real Property costs. It's an IRS-approved method of reclassifying certain components and improvements of a commercial building from real to personal property. This process allows the assets to be depreciated on a five-, seven- or 15-year schedule instead of the traditional 27.5- or 39-year depreciation schedule of real property. Since 1990 the IRS has not challenged cost segregation as long as an Engineering Study is included in the cost segregation study. At NorCal Valuation Inc. we include the required Engineering Study with every Cost Segregation report.
Gil will share advice on this IRS-approved method for accelerated depreciation and reduced current tax payments. Don't miss this chance to have all your questions answered.
The Journal of Accountancy strongly supports the benefits of Cost Segregation Studies. CPAs and Tax Preparers have helped save their clients uncountable tax dollars by recommending Cost Segregation Studies.
Cost Segregation Studies can reach back to 1987 and prior returns are not amended. The IRS calls this a Change in Accounting Method (IRC 481(a) adjustment) and increased tax deductions are made in one year.
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