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 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 savings and earnings growth. Both are 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:
- Reduce property taxes
- Accelerate depreciation on previously misclassified assets (such as any other properties)
- Provide safeguards that stand the test of IRS review
