How Does Cost Segregation Work?
At CSSI®, we create an engineering-based cost segregation study by identifying and placing your buildings components in their proper, (and shorter) 5, 7 and 15 year class lives rather than on a typical 39 year life in the case of commercial property and 27.5 years for residential rental property. This proven strategy can reduce income taxes up to $75,000 for every $1,000,000 in building cost basis owned. We analyze all supporting documentation and complete a site visit on each property. Our report is the supporting document that allows your tax professional to take the missed tax benefit in the current tax year, without amending past returns. We speicalize in partnering with your tax professional to get this done effieciently and accurately and have completed over 30,000 studies for clients in almost every industry, from office buildings, retail stores, warehouses, AIRBnB's, apartments, self-storage, and many many more.
The Benefits of Getting Cost Segregation Services from CSSI®
✔ An immediate increase in cash flow
✔ A reduction in current tax liability
✔ The deferral of taxes
✔ The ability to reclaim missed depreciation deductions from prior years (without having to amend tax returns).
✔ A dedicated CSSI® Representative, Tami Simko
Three Simple Steps to Stop Overpaying Income Taxes Through Cost Segregation
Step 1: Analyze
Request your complimentary CSSI® Property Analysis. This is a preliminary review that includes:
✔ Increased cash flow analysis
✔ Net present value of the savings
✔ An associated cost and simple process outline to complete the study
✔ Icon of a report with charts and graphs
Step 2: Review
Upon engagement, CSSI® will:
✔ Consult with you and your tax professional regarding your tax savings
✔ Evaluate the building’s construction costs by component and building systems
✔ Review all construction documents, including blue prints, as-built drawings, demolition plans, and available project specifications
✔ On-site inspection and walk-through to photographically document building components, systems, site improvements, and any renovations
✔ Concept icon of success with a mountain with a flag on top
Step 3: Complete
Your CSSI® Study is performed and completed within approximately six weeks. This includes:
✔ Reclassifying each building component into more appropriate tax lives as prescribed by IRS guidelines
✔ Allocating indirect costs to each asset
✔ Delivering a written report with the asset detail supporting the reclassification and completion of the necessary tax forms
✔ Assisting your tax professional in the completion of all applicable tax forms
How We Help Tax Professionals with Cost Segregation Studies
At CSSI®, we believe that most tax professionals would love to offer more services to their clients. We know you continually look for additional benefits for your clients and provide them opportunities for increased cash flow. Not only does this provide enhanced client service and loyalty, but it shows your client that you are looking out for their business interests. We understand the demands of your practice and the busy world of public accounting.
Put More Money In Their Pockets With A Cost Segregation Study
At CSSI®, our goal is to simplify the process for you so that your involvement in our study process is minimal. We will either coordinate with you and your client or work directly with your client to secure all necessary documentation to complete the study. We also provide you with cost documents, the 3115, and 481(a) adjustments. By partnering with CSSI®, you will be working with a firm that operates within all approved U.S. tax codes and guidelines.
Let CSSI® provide you with an engineering-based cost segregation study to increase your cash flow significantly. For more information, or to schedule a consultation and get a free estimate, call us at 866-799-2774.
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