Office buildings present unique tax opportunities, especially when considering multi-tenant facilities. See how Source Advisors optimized Cost Segregation to unveil remarkable tax benefits for a contemporary office complex.
This office is a two building, 80,000 square foot complex with a small cafeteria for the tenants. The property was acquired for $6,700,000, placed-in-service in 2019 and sits on a 6 acre site.
A primary challenge was discerning and categorizing the various custom installations specific to each tenant’s requirements. The blending of commercial-grade finishes with tenant-specific elements demanded a meticulous breakdown for accurate tax life categorization.
The site was improved with ample parking, a monument sign and attractive landscaping. The buildings are four-story, steel frame structures, with a glass curtain wall and built-up membrane roofs. Interior finishes such as carpeting, vinyl flooring, painted drywall are commercial grade and the electrical, plumbing, HVAC and millwork are custom to each tenant’s needs.
Source Advisors Cost Segregation engineers were engaged to analyze the actual construction costs, in the form of contractor invoices, and allocated the cost detail to various trades and building components.
Our engineers conducted detailed estimates from the construction drawings and augmented those findings with additional estimates performed during the site visit of the property. Key property personnel were also interviewed. A detailed report was delivered, identifying and documenting all of the components that qualify for a shorter tax life.
Don’t leave money on the table. Contact Source Advisors to find out how Cost Segregation can work wonders for your bottom line.
Our industry experience with cost segregation has helped businesses claim billions of dollars in tax credits and incentives.
Our engineers excel at delineating construction costs to yield the highest tax benefits.
Our 40-year history of achieving substantial tax credit savings for clients across various industries is a testament to our commitment and expertise.
Our thorough reporting ensures every qualifying cost is adeptly reclassified.
Our dedicated support team is readily available to guide you through every step of the process, ensuring a smooth and stress-free experience.
Our recommendations stand in full compliance with tax legislations, offering clients unmatched peace of mind.