Cost Segregation in Oak Brook
Cost segregation is a tax method for commercial property owners that can be used to speed up tax claims and cash flow. It’s a method that also lessens the value of the property tax they pay while writing off repairs. It is a completely reliable and legal way to use extra funds towards reinvesting back into the property.
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J & A CPA Services’s Cost Segregation Services
Most commercial property owners qualify for this service if they have acquired their property within the last 25-39 years. If you would like to schedule an appointment with one of our specialists to see how you qualify for cost segregation, our experts are readily available to take your call.
Creating a Depreciation Schedule
When you purchase a new office building, everything inside usually works well for a bit, but soon you’ll find the daily wear and tear will cause some minor to major issues that need to be addressed. These repairs add up quickly. The schedule of depreciation is not as gradual as you may have first expected. Soon the building that you’ve purchased is no longer worth what you’re paying taxes on. This is where cost segregation comes in.
Cost segregation is a way for commercial property owners to claim repairs and replacements as depreciation of their property.Our cost segregation experts can help turn these extra costs into tax deductions. We can also help you prepare for other expenses by creating a unique depreciation schedule for you so you can invest your money more wisely into your property.
Commercial Building Depreciation
Types of Depreciable Property
There are several types of depreciable property.
Here are a few examples of the more common ones:
- Storage facilities
- Hotels and motels
- Commercial rental properties
- Nursing homes
Common Depreciation Expenses
If you own a commercial building or property, chances are that you’ve already noticed some of the improvements that need to be made. Here are a few examples of the most common items that depreciate the quickest in a building or property:
- Stairs, elevators
- Cabinetry, railings
- Doors, windows, frames
- Asphalt, concrete, hardscaping, parking lots
- Electric wiring
- HVAC systems
- Plumbing, toilets, water pipes, water heaters, boilers
- Security systems
Commercial Property Depreciation Services
Having our professional guidance allows you to discover tax claims on minor and major repairs you’ve done on your property.During our consultation with you, we’ll be able to analyze and break down all the expenses you’ve invested back in your property. Once we do that, we’ll be able to provide the proper cost segregation guidance for you.
Our experience and industry knowledge allow a more thorough cost segregation strategy than other accounting service providers, giving you and your business a competitive advantage.
Contact the Best Cost Segregation Services in Oak Brook
Get in touch with one of our advisors today. We are here to provide you with step by step assistance with cost segregation. We’ll help you develop a strategy based off of your depreciating assets and increase your cash flow. From the initial consultation to aftercare, we are here to help.
Call us now to book an appointment!