UBCNews - Business
Reclassify Personal Property Assets, Shorten Depreciation Period To Reduce Taxes
Are you a CPA firm looking to score the best tax deductions for your clients? These cost segregation experts will reclassify building assets and increase your clients' cash flow. Contact ABGi ahead of tax season at https://abgi-usa.com/services/cost-segregation
DJG Global Investments, LLC DBA My Tooth Media
City: Marina Del Rey
Address: 578 Washington Blvd
Website: https://www.mytoothmedia.com/
- Duration:
- 2m
- Broadcast on:
- 01 Jul 2024
- Audio Format:
- mp3
If you own a CPA firm, you already know that taxes can be complicated. However, you can make your clients' taxes disappear with a specialized property cost segregation study. Call ABGI today for expert advice to shorten depreciation periods and save money on taxes. The firm's team of experts in tax law and construction engineering is positioned to serve CPAs, real estate investors, and anybody who owns commercial property. New additions, asset disposals, and demolitions can provide significant tax benefits for commercial property owners. As such, ABGI offers engineering-based cost segregation studies tailored to each property, analyzing buildings within U.S. tax code guidelines to identify depreciable assets and potential tax credits. Building structures are depreciated over a 39-year tax life in the U.S., but personal property assets like nonstructural elements, exterior land improvements, commercial equipment or machinery, and specialty plumbing can be depreciated over shorter periods, five, seven, or fifteen years. Cost segregation studies aim to identify and reclassify personal property assets and construction costs to shortened depreciation periods, reducing current income tax obligations for property owners. ABGI's cost segregation team will analyze your buildings and grounds to find savings opportunities. They'll discuss potential savings with you, and if you approve, they'll complete the study in four to six weeks. Afterward, they'll provide a report outlining the necessary adjustments to your depreciation schedule, the 481 adjustment, and an engineering report. Your CPA firm can team up with ABGI to ensure IRS compliance and identify all eligible components for deductions. ABGI highlights several benefits for your clients after cost segregation, such as reduced taxable income, increased cash flow, and business growth from reinvested tax savings. ABGI employs professional engineers, lawyers, tax specialists, and strategy experts in the U.S. and internationally. In addition to cost segregation, you can consult the firm for other specialized tax incentives, like their research and development tax credit, and Section 179(d) deduction. A spokesperson for the company says, "Even if a cost segregation study has been done in the past, it is our experience that things are not always correctly accounted for." Our team of attorneys and engineers will provide you the highest level of service while adding value back into your company. Looking to enhance your tax strategy and maximize deductions? Cost segregation is the key. Click the link in the description for more information.