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Cost Segregation is a tax planning tool that can allow real estate property owners to accelerate depreciation deductions and defer Federal and State income taxes. Our team of professionals identify costs that are currently classified as real property, and reclassify the appropriate costs as personal property or land improvements. The reclassified property now has a 5, 7 or 15 year life. As a result, tax savings of many thousands of dollars can be realized, especially in the initial year of the reclassification, then henceforward for multiple years. Our independent analysis is a key to justifying this reclassification, which is required in the event of IRS scrutiny. Newly constructed buildings, purchases of existing buildings, and buildings already placed in service are all potential candidates for cost segregation treatment.
Key Potential Benefits: ¨ Reduce business or individual income taxes ¨ Possibly reduce real estate taxes ¨ Provide businesses or investors with increased cash flow
The amount of savings realized will vary depending on building type and usage, specific asset classes, expenditures, business operations, and other financial factors. Many non-residential commercial properties may qualify for tax deferral and cash flow benefits.
Some property types have a higher probability of significant cash flow benefit. To determine if buildings are eligible for these studies, property owners should call our office.
You can take advantage of these potential benefits in by calling your partner at Parke, Guptill & Company, LLP at (626) 339-7341.
Click here for a brochure.
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Cost Segregation |
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EMERGING GROWTH BUSINESS SERVICES |