Everything I Need to Know Cost Segregation Study

A cost segregation study permits commercial real estate owners to more rapidly depreciate personal property. 

This results in significant cash flow benefits in both present and future years.

This benefit is a Federal program designed for business owners who own commercial properties, or have performed significant lease hold improvements. 

90% of all commercial properties qualify for this program. 

It provides an opportunity to significantly reduce federal taxes and improve cash flow.

See your benefits in 60 seconds, then show your CPA.

No upfront fee cost seg studies.

Benefits of WOTC

https://vimeo.com/505038056

This time the IRS extended the WOTC program for 5 years and expanded it quite a bit.

$1,200 on Average for Every Employee You Hire

$3,600 on Average for Every Employee You Have

$14,000 for Every Employee You Have If Your Company Was Affected by Covid

Our Software Searches Hundreds of Local, State, and Federal Tax Credits In Real Time... Every Time

The software does 90% of the work, requires no contract.

YourWotc.com

“R&D, I don’t think we do that!” ​

 

​​If, when you hear R&D, you think of people in lab coats tinkering with chemicals, ultra high tech industries and Fortune 500 companies, you are not alone.  However, things have changed!

Way back in 2001 the IRS changed the definition of R&D and the changes were so broad that it virtually encompasses all manufacturing or technology organization in some way.

Why is this?  It’s because, by and large what do manufacturing companies do?  They design new products, improve existing products, come up with new processes, or make improvements to existing processes used to make products.  Most of these organizations don’t have an R&D department and probably don’t consider that what they are doing is “R&D”.  They are making these improvements and changes because they MUST stay competitive and yet, as the government sees it, “R&D” is exactly what they are doing.

Here are some of the everyday activities that would qualify for the credit:

Designing the process to fabricate the metal to reduce shrinkage and increase its quality
Programming CNC machines
3D CAD Engineering with programs like SolidWorks
Developing and testing of prototypes
Quality assurance – First-piece quality inspections
Designing and developing of specialty tooling and fixtures
Considering alternative metals to develop the product
Considering different metal thicknesses
Developing engineering drawings
Developing weld procedures
Bending of metal (e.g. sheet metal) has to consider the stressing and stretching
Considering strength of final product for application (meets specifications)
​
So, the next obvious question is…”How do We get some money?”  The IRS allows companies to go back several open tax years to take advantage of the credits they may have missed.  (Nice of them isn’t it?)  Just 120 days after submitting the amended returns, you can get cash in your pocket.  Additionally, you can take credits for current and future years if you continue to perform activities that qualify for this credit.

To find out if your organization would qualify ask yourself a few questions:

Are you expecting to be profitable this year, or were you profitable in any of the last 4 years?
​
Is your average annual payroll for these years in excess of $1 million?
​
Is your company structure a C Corp, or an S Corp/Partnership?
​
If you answered yes to any of these items then you definitely need to have an R&D Tax Consulting firm take a look at your organization.    You could potentially have a five-figure credit, even higher credits are available for organizations with higher payrolls.
​
​Take a few minutes and answer some simple questions at Business Refund
​
​After you see the results you can schedule a call and bring anybody you wish to attend, or you can have a live chat M-F 9am-5pm EST or you can self-activate your savings.
​
​Larry@BusinessRefund.com
​

What is a Depreciation Schedule?

 A depreciation schedule is a detailed document that can include items such as:

• A breakdown of all building allowance costs.
• A breakdown of all equipment costs.
• The rates at which you can claim different items and the effective lifespan estimate of each item.
• A breakdown of how much you can claim per annum based on the financial year end.

Incorrect Depreciation Schedule for a Commercial Property Cost Segregation Study:

What makes one incorrect is that it only contains items such as equipment, vehicles, etc. and does not contain any of the items we are looking for in a Commercial Property Cost Segregation (purchase of a building, land, construction, renovation, major updates, signage, landscaping, wiring, HVAC, etc.).

Remember:  There is no standardized format for a Depreciation Schedule, every client's will look unique.   The important thing is the items you are looking for to appear on the schedule as listed above.

Latest Clients Gets $40,903...

My latest client just received this email:

"Recently your company signed up for our COVID-19 Economic relief program. Thank you for engaging us in reviewing the many programs that may offer your business economic and tax savings. Through our software and further analysis, we've qualified you for additional Federal benefits through the ownership of commercial property. Currently, the tax benefit is $40,903 and is available as an immediate reduction of Federal taxes."

Larry at BusinessRefund.com

Partnerships with CPAs

 

I wanted to wait until tax season ended before posting, but this is too important. Our clients have been utilizing tax incentives to provide needed capital to businesses.

I have a growing number of CPAs and tax professionals who are affiliated with us and finding success for their client base.

Here is a link where you can check any one of your clients eligibility.

Some small business owners are seeking professional help with no upfront fees.

 

Talking to a financial adviser for more specific advice does not constitute professional financial advice.

If you can improve your personal finances with a solid emergency fund, strong personal credit, and a diversified portfolio of retirement savings aside from the equity that you own in your business, you will more likely be able to focus on running your company with a mindset of calmness and optimism. 

And for business owners, who are some of the busiest people in the world, having peace of mind about business savins can be truly priceless.  

Now help is only a click away at www.BusinessRefund.com