"I have clients purchasing commercial properties (Hotels and Assisted Living facilities) ---would I be able to use this tool to calculate the TAX savings?
Looking for another creative way to benefit new buyer but at the same time negotiating price and terms with sellers.
Please advise ASAP. Thanks."
Answer from GMG: " Cost segregation is for the purchase or renovations of the building. It is possible for the seller and purchaser of a building to both take advantage of cost segregation during the sale of a building. However, it would need to be reviewed on a discovery call to go over the details to determine for sure. If income is generated Cost Segregation may be a good benefit to offset part of that income."
Their next question was: Does this work for single family homes that buyer will be buying to use as Assisted Living Facility (6 adults in 1 house)
Answer: If income is generated Cost Segregation may be a good benefit to offset part of that income.
Final question: What is the best tool my commercial property owners can use before April 15th who are worried about taxes this year and find out how to offset or eliminate their tax liability now?
Answer: This free handy tool will do that in 30 seconds for them.
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