Results for tag: "Cost Segregation"

Cost Segregation is a tax strategy used by businesses to maximize their tax deductions by reclassifying certain assets from real property to personal property. This allows businesses to accelerate depreciation deductions and reduce their taxable income. Cost Segregation is a complex process that requires a detailed analysis of the assets and their use. It is typically used by businesses that have recently acquired, constructed, or remodeled a building, as well as those that have made significant improvements to existing buildings. Cost Segregation is a specialized service offered by tax professionals, such as Certified Public Accountants (CPAs) and Enrolled Agents (EAs). These professionals are trained to identify and analyze assets that can be reclassified from real property to personal property, and to calculate the associated tax savings. Companies in the Cost Segregation market include Cost Segregation Services, Inc., Cost Segregation Authority, LLC, and Cost Segregation Solutions, LLC. Show Less Read more