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Archive for February, 2007
Even after the fiscal year ends, and business owners of improved commercial real estate are seeking tax deduction opportunities, one popular option is to conduct a cost segregation study. Cost segregation will identify any item that can be depreciated over a shorter period of time. These studies can result in additional depreciation for properties including new buildings, renovations of existing buildings, leasehold improvements and commercial real estate purchases after 1986. Cost segregation allows business owners to increase depreciation and generate more tax deductions.
Cost segregation involves separating up to 135 components of real estate that depreciate faster than the building itself. Taxpayers can depreciate many components of real estate using a five-, seven-, or 15-year recovery period. Within permissible bounds, there is a huge tax savings opportunity for depreciating this property accurately. Examples of these categories include items such as carpeting, certain fixtures, window treatments, site improvements and some wall coverings.
Cost segregation typically apportions about 20% to 40% of the improvement cost basis to short-life property. Short-life property depreciates over a shorter life period and provides a higher level of tax deductions annually during the first 15 years of ownership. Most business owners increase depreciation by 50% to 75% by obtaining a cost segregation analysis.
Matt Irvin, a full service discount mortgage broker at Team Funding Group, provides residential loans. Matt is teaming up with Courtney Silverman to work with National Football League coaches in Davie, FL finance their home purchases. 
Testimonial
“I spoke with a number of different companies while shopping for a mortgage this past April. Matt Irvin explained the process in the most detailed and understandable way. In fact, he was willing to take the time to educate me on various loan options. He had excellent ideas and suggestions for products that would fit my requirements. Most importantly, he always responded promptly and around my busy schedule. Some companies did not return my calls for a week to 10 days. Matt called me back in 10 minutes. I have no reservations in recommending him to my friends and family members.”
Matt Schiotz
Assistant Coach
San Diego Chargers