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If you’ve recently purchased or built a building or are remodeling existing space, now may be the time to consider a cost segregation study. A cost segregation study identifies property components and related costs that can be depreciated much faster than using standard depreciation methods, perhaps dramatically increasing your current deductions.
Typical assets that qualify include:
The benefit of a cost segregation study may be limited in certain circumstances, such as if the business is subject to the alternative minimum tax or is located in a state that doesn’t follow federal depreciation rules.
Doeren Mayhew’s Tax Incentives Group has helped numerous clients defer taxes in excess of $1 million per year. Contact Doeren Mayhew’s tax advisors in Michigan, Houston or Ft. Lauderdale to find out more information on using cost segregation studies as a strategy to maximize your 2013 depreciation deductions.
This publication is distributed for informational purposes only, with the understanding that Doeren Mayhew is not rendering legal, accounting, or other professional opinions on specific facts for matters, and, accordingly, assumes no liability whatsoever in connection with its use. Should the reader have any questions regarding any of the news articles, it is recommended that a Doeren Mayhew representative be contacted.
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