Cost Segregation in Los Angeles
Many of our clients qualify for cost segregation services without even knowing it. Cost segregation is a tool we use in order to speed up tax deductions on your commercial property. As your property gets older, you’ll need more money to invest in your property for repairs and renovations. Using our professional services, you can get that money back faster.
If at any time in the last 25-39 years you’ve built, expanded, renovated, or bought commercial property, then you qualify for our cost segregation services!
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Denali Accountants’s Cost Segregation Services
Your commercial property will most likely last longer than the things inside it will. Eventually, things start to break down and will need repair or replacement services. These repairs and replacements can be claimed on your taxes as things that decrease the value of your property, meaning you’ll pay less in property taxes.
Here are a few types of commercial property that depreciate over time:
- Hotels and motels
- Commercial rental properties
- Nursing homes
Common Causes of Commercial Building and Property Depreciation:
- Electric wiring
- HVAC systems
When to Start the Cost Segregation Process
Typically, we advise our clients to start thinking about cost segregation as soon as they purchase a commercial property. Chances are there are some tax deductibles on the renovations or repairs you’ve already put into the property, even if they’re minor. Our experts can go back and find deductions that you’ve missed out on and claim them. If you haven’t had a cost segregation done within a few years, you’ll probably have a nice amount to claim, meaning you can reinvest it where it is needed.
Four Steps to Cost Segregation
We have many years of experience dealing with big and small commercial properties in various states. Although we work side by side with you to make sure your unique situation is dealt with properly, we’ve come up with a general four-step process to begin cost segregation.
- Inspection: We start with a professional inspection of your commercial property. Having a building engineer or inspector evaluate the property will give us the best and most reliable judgment on what should last and what should be an expense to claim.
- Valuation: Once the property has been professionally inspected, we carefully analyze and estimate the value of everything. Our meticulous attention to detail will make sure that nothing is forgotten.
- Classification: As we assign a value to every part of your property, we also organize it into the correct tax classification. This will make it easier when reporting the claim.
- Cost Segregation Result Schedule: We then give you a report on all our work along with advice on where you can and should claim deductions.
Contact Us Now for the Best Cost Segregation in Los Angeles
Call us today for more information on our cost segregation services or to set up a free consultation with one of our experts.