Who should consider a CSS?
A CSS is appropriate for practically any industry and for any structure. Any commercial property owner or a qualified leaseholder that is a taxable entity – an individual, partnership, LLC, S Corp or C Corp—will benefit from a CSS. A CSS is generally cost effective for properties with a basis in excess of $500,000. Only those owners who are close to fully depreciating their properties would find little benefit.
If you’ve purchased an interest in a partnership that holds commercial properties, a CSS may increase your future depreciation deductions.
Properly prepared, a CSS creates depreciation tax savings years, if not decades, before the building owner or leaseholder would otherwise realize such savings. The savings generated from CSS can give the owner a significant windfall of tax savings that he can then put to use in his business.
GS cost segregation studies are performed by building and tax professionals with both the academic credentials and the depth of experience required for a study's acceptance by the IRS.
The first step is a preliminary evaluation made available, without charge, to eligible commercial property owners and qualified leaseholders, in order to determine the scope of the project, an estimate of the associated expenses to perform the Cost Segregation Study, and most importantly your potential for tax savings.
We should be able to provide this preliminary analysis within four weeks after we have received all the necessary information from you. Based on the findings, and with our mutual agreement, we continue working toward a proposal for the production of the Cost Segregation Study.
We then go into greater detail, collect additional information from you, and further analyze all data sufficient to prepare a final proposal, which includes a services agreement and engagement letter. The client services agreement and engagement letter provide, among other detail, our mutual responsibilities, the terms and conditions, the fixed fee schedule, any anticipated variable expenses, and the necessary authorization's to commence the study. With an authorized agreement, we begin work to produce the CSS.
A CSS study is a factually intensive analysis of properties and depreciation asset classifications, using applicable statutes, regulations, IRS pronouncements and judicial precedents. There are a multitude of factors determining each study. This being the case, each study is unique and cannot be used to determine the outcome of any other study. Typical cost "examples" are available to the public, from numerous sources, and are based on the experience of multiple firms, who have performed studies for several years, and for diverse property types. Your project may not be a typical "average" project.
You have our personal commitment to perform with the highest ethical and professional standards, and to generate work products of quality and integrity.
What can I expect with your study?
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