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What if my commercial property business is audited by the IRS - Will Source Advisors be available to help me?
Yes. At Source Advisors, we stand behind our Cost Segregation services. Our team provides unparalleled studies that result in meticulous attention to detail identifying construction-related costs. To request sample Cost Segregation studies, please Contact Us.
How long does a Cost Segregation study take to complete?
A Cost Segregation study typically takes 30-45 days to complete. The Source Advisors team will keep you up-to-date throughout the study and answer any questions you have regarding the services being conducted.
What information do I need to provide Source Advisors for an estimate?
- Capitalized costs for your project.
- Years that is was capitalized in.
- Depreciation schedule, if available.
- Brief description of your business.
- Number of floors, square footage of the building site.
- Property address.
How much does a cost segregation study cost?
The IRS specifies the cost of Cost Segregation should be based on the time required to perform the study; not a percentage of the projected or realized savings. The time involved in a study is drive by multiple factors. Here are just a few aspects of the project that will impact the time involved to perform the study: how big is the building; what is the business activity in the building; and how many tax years will be analyzed?
What is cost segregation in real estate?
Briefly, Cost Segregation is an IRS recognized tax benefit strategy whereby we identify specific components of a building or improvement project that can be treated as personal property or land improvements for Federal tax purposes rather than real property. The cost for the personal property depreciates over 5 or 7 years and land improvements depreciate over 15 years rather than the 39 years or 27.5 years depreciation for real property.