Did you know that under Code Sec. 1250 to Code 1245 of the IRS tax code that you can legally accelerate depreciation into aggressive shorter term periods by reclassifying your assets?
As a commercial property or business owner, you want to fully understand what this means and just how fully identify, documenting and reclassifying your property’s “personal assets” in to five year categories could provide you with immediate reduction of tax liability that will extend your cash flow immediately.
Along with an onsite engineering analysis, a good company uses all of approved IRS depreciation methodologies to identify your eligible depreciable deductions resulting in what could be a 15-40% decrease in tax liability (Reference: http://www.irs.gov). Meaning... your provider will not only look at what has historically been on your books or invoices from recent purchases, they will also look at those tangible personal items that are hidden in and behind your walls, in your floors and in your surrounding land.
Great companies, (LIKE OURS :) ) will cover the cost to investigate your benefit for you commit to an onsite valuation. They also will insist that your CPA or Comptroller be integral in this process, as well as supply you with hard and electronic data for your records.
This may sound unbelievable, but your tax savings will be significant and are measurable. The proven success in this practice has been to exceed a client’s tax benefits without audit 98% of the time. The very best thing is that on average, your tax benefits outweigh your total costs 20 to 1.
Do the research. We are here to answer more questions and help you move forward.