If you are considering making improvements to a commercial building, there are various tax strategies that may apply to your particular situation. One of these is abandonment, which allows the taxpayer to reduce the tax burden when replacing assets that exist within a building. So, if your green building strategy includes replacing metal halide lighting [...]
Although creating an energy efficient facility saves money for business and building owners in the long run, the cost of getting there can be prohibitive. You might want to retrofit your existing building with energy efficient lighting, HVAC or upgrades to the building envelope in order to save money on energy costs, but you’ve first [...]
According to Wikipedia, cost segregation “is the process of identifying personal property assets that are grouped with real property assets, and separating out personal assets for tax reporting purposes. A cost segregation analysis identifies and reclassifies personal property assets to shorten the depreciation time for taxation purposes, which reduces current income tax obligations. Personal property [...]
Cost Segregation is the process of segregating the costs associated with the specific commercial real property investments in real estate. Commerical real property is depreciated over 39 years (or 27.5 years for commercial residential). In order to qualify for Cost Segregation, properties must have been constructed, acquired, or renovated after 1986, under the IRS guidelines. The [...]
In the current economy, it is especially important to take a pro-active rather than reactive approach in business operations, especially as it relates to protecting your capital assets. A Reserve Study is a valuable budgeting planning tool that provides data for a property’s major repairs, replacements and/or required upgrades. The study gives a clear picture [...]