Tax Savings Secrets: How Cost Segregation Analysis Can Save You Money
Podcast: Tax Savings Secrets – How Cost Segregation Analysis Can Save You Money
John is STG’s Fixed Assets / Cost Segregation / Accounting Methods Principal. Over the past 15 years as a Fixed Assets specialist, John has been responsible for the business development efforts for fixed asset services, including new client identification, proposals, and client deliverables. He has led and executed cost recovery studies on more than 5000 facilities, including; healthcare, retail, manufacturing, commercial office, multi-family, power generation, and dealerships.
[00:01 – 08:32] Opening Segment
- John Hanning introduces Specialty Tax Group
- The power of depreciation and cost segregation analysis
- Cost segregation accelerates allowable tax deductions for the client
- Bonus depreciation steps down by 20% each year from 2023-2026
[08:33 – 16:20] Is Cost Segregation Worth the Risk?
- Exploring the benefits and risks of cost segregation studies
- People should continue to do cost segregation studies despite the reduction in benefits
- The best practice for timing
- Engage with a firm to begin the study on the day of acquisition or at the onset of construction
[16:21 – 24:14] Innovative Tax Planning Strategies
- Cost segregation studies are not bulletproof, but they follow an audit techniques guide
- When cost segregation studies may not make sense
- The allocations between real and personal property
- It should be determined by an independent appraisal or auditor’s website
[24:15 – 32:05] Closing Segment
- Cost segregation studies can create additional deductions to offset income
- The cost of a cost segregation study
Speciality Tax Group: https://www.specialtytaxgroup.com/
Brian’s Linkedin: https://www.linkedin.com/in/brian-c-adams/
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