Cost Segregation: A Huge Tax Incentive For Commercial Property Owners
Would you take your money now or wait?
Have you ever wondered why someone receiving a large payout would take it in a lump sum instead of installments over time? It boils down to economics. The principle is that a dollar today is worth more than a dollar tomorrow because it can earn you money NOW and grow your wealth exponentially for your future. This principle is known as the time value of money.
How does this apply to you as a commercial property owner?
Is there a lottery for commercial property owners that you can start playing? In all jest, no, but there is money waiting for you to claim right inside the walls of your building.
Most commercial property owners depreciate their buildings over 39 years. But there are better ways to do it. The components of your building depreciate much more than the overall building, but it is simpler to dump it all in a 39-year bucket and be done with it. But WHY? Why would you do that when that approach is literally throwing away your hard-earned money? Because most property owners don't apply cost segregation engineering reports to depreciate components like lighting, cabinetry, landscaping, etc., at 5, 7, and 15 years (as they should be).
Applying cost segregation to your property allows you to take more depreciation expense, reducing your income, and thus reducing your tax burden! As a taxpayer, you will receive a significant tax benefit, money you can use NOW.
All you need to do is ask yourself, should I take my money now and invest in my future, or let the government keep my money for 39 years? - The time value of money!
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Can you perform your cost segregation study?
Adhering to IRS guidelines typically involves a team of tax advisors and engineers working together to decide which components of a building should go into each category and how much each element costs individually. They will review the available property records, inspections, cost details, and blueprints and inspect the property. Performing this analysis on your own isn't feasible.
Utilizing a firm with an established history of reputable performance is a must! At Dream Capital Consultants with our partners at Growth Management Group, have been using cost segregation studies to improve the bottom line for our clients for over twenty years.
Considering cost segregation, every commercial property is unique and should be treated as such. We've designed proprietary software that takes about sixty seconds to determine your specific property benefit. There is no obligation to use this system; it will walk you through any questions. We encourage you to check your eligibility now, at no obligation. Use your free feasibility report to decide if cost segregation is a good fit for you. - The time value of money!
See what your business qualifies for now at: https://gmg.me/news/cost-seg-landing/330353
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