The Tale of the Tortoise and the Hare: Be Wise when Choosing a Cost Segregation firm!
Once upon a time, there existed two rival companies specializing in cost segregation studies – Cost Seg America and Cherry Pickers Inc. Much like the timeless fable of the Tortoise and the Hare, these companies diverged significantly in their approaches.
Cost Seg America resembled the Tortoise in their methodical and unwavering demeanor. They dedicated ample time to execute thorough Tier One Cost Segregation studies, meticulously scrutinizing every facet of properties to unearth valuable tax advantages for their clients. Their team of experts left no stone unturned, ensuring the most comprehensive analysis.
A friendly note to all our clients who have undertaken building enhancements after having a cost segregation study performed on a building: Consider a Phase 2 cost segregation analysis exclusively for these recent property improvements. This could potentially yield noteworthy tax benefits tied to the new additions.
Additionally, if you're planning a cost segregation study for a new property, remember to communicate any post-purchase enhancements to your cost segregation advisor. Your proactive communication can lead to maximized benefits.
Our engineering team aims to beat the delivery deadline, much like the persistent tortoise racing against the swift hare. When you enlist our services, we request that your provide our team with the necessary documentation as soon as possible.
By having your documentation ready, together we can successfully reach the finish line before the target deadline. The specific documents needed will vary for each study, encompassing items such as a purchase settlement statement, appraisal, site survey, construction plans, construction costs, and an up-to-date depreciation schedule.
"The information contained this newsletter is meant for guidance purposes only and does not in any way constitute legal or tax advice. Readers should seek advice from their CPA or Accountant in relation to information contained in these articles."
