A Blog About Tax Savings for Building Owners

Tag: Tax Professionals

Year-end Tax Planning for CPAs, Building and Business Owners – Cost Segregation

It’s that time of year again – Q4 and people start to scramble to see what their tax liabilities are going to be for the year. Business owners are meeting with their tax advisors and accountants to see what the damage is going to me. Many times the topic of cost segregation comes up and a smart tax advisor will encourage his/her building owner client to get a cost segregation study done. If you don’t have a resource to get that done, I’d be happy to be of help to you.

I work with building owners, investors, CPAs, EAs, tax professionals, commercial real estate brokers and REALTORS all across the U.S. to get cost segregation studies done so they can save money on their income taxes.

Check out our new resource at www.CostSegCalc.com. Plug in your asset details and you will see what you can save on your taxes. If you need a quote for the study, you can fill out the form there or give me a call.

How to Use Cost Segregation Studies and Estimates to Eliminate Quarterly Tax Payments

Commercial building owners can use a cost segregation study results to eliminate or minimize their quarterly tax payments. These building owners can even just use an estimate or predictive analysis from a qualified cost segregation firm an apply that to the calculations for what their tax liability might be for their quarterlies.

As I write this today, the September 15th deadline is coming up late this week. As building owners and their CPAs make the final calculations for what the owner’s estimated tax bill might be, we can generate an estimate for that owner yet this week that would impact what that owner owes for his quarterly payment.

For example, let’s stay a business owner / building owner is expecting that he or she has to write a check to the IRS for $20,000 for his quarterly payment. This owner also owns a building that he has owned for a few years but has never done a cost segregation study. We can run an estimate this week and provide an idea what that owner might save on his taxes. Let’s say the estimate comes back and we believe he may save $30,000 on his income taxes if he applied it to this year’s tax return. If that’s the case, that $20,000 that he owes this week could stay in his checking account rather than being sent off to the IRS.

Please consult your own tax advisor. This post is not tax advice. Please reach out to me if you’d like for me to run an estimate on your building.

Building Owners – Did You Do a Signifant Renovation in 2022?

Just a reminder for building owners and their tax professionals out there…we are the outsourced provider for hundreds of tax professionals and firms who need to get cost segregation done for their clients. We can help with partial asset dispositions on large ($100k+) renovations as well as capitalization to expense reversals. If you have clients who have buildings and if they haven’t done a cost seg study, reach out and let’s talk. We can usually make it work for a client down to about $200,000 in depreciable building cost / basis. We are still 5-6 weeks away from our deadlines to hit tax deadlines of 3/15 and 4/18/23…that time will go fast. Let’s get them scheduled.

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