Cost Segregation
Tax saving opportunity!
Finding new ways to reduce tax liabilities and enhance cash flow is a top priority for every corporate manager and executive. Unfortunately, opportunities to have an impact are very rare. However, if your company has recently purchased, developed, or improved leased commercial property, you may be able to “discover” new tax saving opportunities through a cost segregation study. While the rules and regulations governing these studies are complex, our firm is able to help you leverage this opportunity.
What is a Cost Segregation Study?
A cost segregation study identifies the assets and costs of your commercial real estate or construction project and classifies them for federal tax purposes. Traditionally, most will classify assets (electrical, mechanical, and plumbing features) on a 39-year depreciable life schedule providing a consistent tax benefit. However, through a cost segregation study, these same assets are re-classified with a 5, 7, or 15-year depreciable life schedule using accelerated methods. This allows a company to depreciate assets in a new or existing structure in the shortest amount of time under current tax laws. The result is less time to realized tax savings.
The Process
Hanson & Company conducts an investigation of your project relying on a team of accounting, construction, and engineering professionals to identify and reclassify assets as permitted. Our process includes:
Review of Architectural Blueprints
Identification of Assets Qualifying for Reclassification
Creation of Detailed Asset Descriptions & Functions
Documentation of Assets Available for Reclassification
Report Preparation
Contact Us
Tax compliance and planning can be a complicated process that requires the assistance of a seasoned professional. For additional information on our tax services contact us at 303-388-1010 or fill out a contact form here to learn how we can help.
Services
The latest from Hanson & Co.
Clean Energy Tax Incentives for Individuals
Over the last few years, there has been an increase in the popularity of hybrid, plug-in electric, and other energy efficient vehicles.
Tax News Update – May 2023
One of the new requirements to claim an up to $7,500 tax credit on the purchase of a clean vehicle, effective for 2023, is that the clean vehicle must:
Exercise Caution When Claiming the ERTC
The Employee Retention Tax Credit (ERTC) is the only COVID-19-era tax incentive that Denver organizations can still claim.
Contact Us
Hanson & Co works with middle-market companies and high-net-worth individuals in Denver, Colorado, and across the country. Regardless of the complexity of your need, our team is ready to help you. Please complete the form below, and we will follow up with you shortly.