A cost segregation study identifies and reclassifies personal property assets to shorten the depreciation time for taxation purposes, which reduces current income tax obligations. Personal property assets include a building’s non-structural elements, exterior land improvements and indirect construction costs.The primary goal of a cost segregation study is to identify all construction-related costs that can be depreciated over a shorter tax life (typically 5, 7 and 15 years) than the building (39 years for non-residential real property). Personal property assets found in a cost segregation study generally include items that are affixed to the building but do not relate to the overall operation and maintenance of the building.
What Is The Tax Benefit To You By Engaging Soukup, Bush & Associates, P.C. To Perform A Cost Segregation Study?
If you have purchased or remodeled a building in the last four years, Congress has passed legislation which offers you a rare opportunity to save money.
Do not miss out on a once in a business lifetime opportunity to obtain tax refunds from as far back as five years ago.
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Soukup, Bush & Associates enforces a rigid quality control process, including a tax review on every project to ensure accuracy.