“You can only do Cost Segregation on a new building or new renovation.”
As a rebuttal, “Yes”, it is beneficial to have a Cost Segregation study done when you purchase/construct/renovate a new building. In fact, anyone constructing or renovating a commercial property should have a study completed.
“But, you can only do Cost Segregation on a new building or new renovation”.
To officially rebut this statement, I will go straight to the source. The first sentence in the IRS Cost Segregation Audit Techniques Guide – Chapter 6.2 reads:
“A taxpayer may conduct a cost segregation study on used property and then recompute its depreciation deductions for prior years”.
Not only “may” a taxpayer do this, but over 75% of our projects are older properties. In the industry we call this the “Catch Up” method, and it can produce powerful results.
Why doesn’t every building owner and CPA know this?
The answer is simple; it is not their area of expertise. Although some building owners and CPAs have substantial experience with Cost Segregation, most do not. This factor has caused countless thousands of building owners to miss out on this powerful tax savings strategy.
Hundreds of thousands, or even millions, of dollars in tax savings may be available to you. Now that you are aware, let’s see how much you qualify for! Visit Us today for more information at BusinessRefund.com
