Cost segregation studies can be applied to any property, whether recently built, purchased, or even renovated. The study works to quicken a property’s depreciation timeline, which in turn generates greater deductible expenses for your year-end tax returns. This can be achieved in two ways: by accelerating the depreciation timeline; and shortening the appreciation timeline. Abiding by the letter of the law, Haynie & Company’s CPA experts recategorize assets linked to the real estate in question, leveraging depreciation to create value in cash flows.
It should be noted that cost segregation, while used more often for real estate companies such as trusts and agencies, can serve any business in possession of depreciating property. Haynie & Company’s CPAs have assisted with numerous businesses, from manufacturing companies with depreciating warehouses to retail stores with dozens of brick and mortar locations, in minimizing their tax burden via cost segregation.
A cost segregation study offers your business some of the most creative avenues toward achieving two things any business can use more of: savings and earnings growth. Both earned through depreciation deductions. Outside Haynie & Company, no other accounting firm in the Salt Lake City can help your business to reach three major cost segregation goals:
For over 60 years now, Haynie & Company’s experienced and knowledgeable CPAs have been serving businesses across the United States. It’s quite a feat to remain in touch with the latest trends and technology in accounting for such a long period of time. The changes in cost segregation practices alone have been profound–yet our team has always been three steps ahead.
Haynie & Company can boast more experience and expertise in professional accounting services. As we like to say to our clients, we don’t specialize in anything, because we specialize in everything. One service of ours that requires both a great deal of broad accounting knowledge and specialization is the cost segregation study.
Does your business own real estate? Do you have any property listed under your name? You could be missing out on significant tax savings and cash flows. Contact Haynie & Company in Salt Lake City to schedule your cost segregation study and get the most out of your property. Give us a call at 801-972-4800, or contact us through our online form to schedule an initial consultation.