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November 2014
Real Estate Depreciation News You Can Use

Upcoming Events 


Look for a CRS representative at the following NJSCPA Tax Seminars:

Bergen
Saturday November 15

Southwest Jersey
Friday December 5

Union
Saturday December 13

Monmouth/Ocean
Saturday January 10


Be sure to stop by our table and enter the drawing for our giveaway. We look forward to meeting you. Click here for more information or to register for any of the NJSCPA seminars.

 
Year-End Tax Planning Opportunities

Year-end tax planning is in full swing. 

 

Consider the following opportunities to help your clients reduce 2014 income taxes.

 

 

Acquisition or Construction of Real Estate

Has your client acquired a property in 2014? Or have they constructed a property that will be placed in service in 2014? If so, a cost segregation study will maximize their depreciation deductions and reduce income taxes in 2014 and beyond, while providing the documentation required by the Internal Revenue Service.

 

Depreciation Schedule Review - Retroactive Studies

Review client depreciation schedules to see if there are any opportunities for retroactive cost segregation studies (i.e. more than $1 million of cost basis in 27.5/39-year real property capitalized in the last 10 years).  Retroactive studies typically generate large current year depreciation deductions (481a adjustment) without amending prior tax returns.


Other Improvements
Discuss improvements that will be capitalized in 2014 with your clients before year end.  Understanding their expenditures now will help maximize Section 179 expensing or other opportunities before it is too late.
 

Fixed Asset Retirement Studies

Has your client renovated or expanded one of their facilities? Or have they demolished a structural component of a building or a leasehold improvement?

 

If so, they can write-off the remaining tax basis of the retired component. The new tangible property regulations permit taxpayers to recognize a loss on the disposition of a structural component of a building or leasehold improvements, instead of continuing to depreciate the retired component.

 

 
The CRS Advantage

Cost Recovery Solutions, LLC is a tax and engineering consulting firm dedicated to helping building owners reduce taxes and increase cash flow through Cost Segregation, Energy Tax Services (§179D), Tangible Asset Appraisals and Fixed Asset Reviews.


Our team brings the following expertise to all of our projects:
  • All work is prepared by our specially trained in-house engineering and tax professionals with the following designations:
    • Senior Member (SCSP) of the American Society of Cost Segregation Professionals (ASCSP)
    • Accredited Senior Appraiser in Cost Surveys (Cost Segregation) and Machinery and Technical Specialties from the American Society of Appraisers (ASA)
    • Chartered Financial Analyst (CFA)
  • In-house CPA with over 40 years experience in taxation specializing in real estate
  • Recognized as experts in the industry; frequently invited to speak at seminars and continuing education programs including the AICPA's National Practitioners Symposium; published articles in a wide range of publications
  • Performed projects throughout the United States and have experience with a wide variety of asset types
Contact Us
For more information or a complimentary projection of benefits, please contact:

Robert Rahner
Managing Director
rob@crscostseg.com

Cost Recovery Solutions, LLC 
www.crscostseg.com
106 Apple Street, Suite 105
Tinton Falls, NJ 07724
Phone: 732.548.3855
Fax: 732.228.7421



 

 

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