If you are a business property owner, you will want a Cost Segregation Study now before it’s too late.
In the simplest form, a Cost Segregation Study classifies existing real estate assets (electrical, furniture, roofing, or fencing) and takes the maximum depreciation for each asset. From there, your tax professional can frontload all depreciation deductions and save you thousands in taxes.
Why now? In 2023 bonus depreciation on qualifying property is expected to phase out each year by 20%. Take advantage of the tax savings now, before it’s gone. For more information, give us a call today.
