Cost Segregation Studies: Best Practices
Reclassifying Business Personal Property to Achieve Income and Property Tax Benefits
Recording of a 110-minute CPE webinar with Q&A
This teleconference will review best practices and commonly followed standards in conducting a cost segregation study as performed by corporate tax professionals and advisors handling both income and property taxes.
- Reasons to perform a cost segregation study
- Separating non-structural elements, exterior land improvements and indirect construction costs
- To identify construction-related costs that can be depreciated over a shorter tax life
- Adjust the timing of depreciation to maximize cash flow for other purposes
- Create a defensible audit trail
- Immediately recapture retroactive savings on property added since 1987
- Reduce property taxes
- Eligible real property
- Features of the cost segregation study process
- Internal and external resources
- Need for a construction engineer
- Applicable standards and guidance
- Experiences from prior studies
The panel will explore these and other relevant topics:
- Standards and guidance from the IRS, American Society of Cost Segregation Professionals and elsewhere.
- Proper timing for a study, be it done post-purchase, in the year a property is placed in service, or pre-construction.
- Features and documentation in a high-quality cost segregation study.
- How to minimize the potential downsides arising from conducting a study.
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
His client work focuses on capital cost recovery services, and he has more than 18 years of experience in cost... | Read More
His client work focuses on capital cost recovery services, and he has more than 18 years of experience in cost segregation work. He previously was central region director of cost segregation services for Ernst & Young.Close
Gian P. Pazzia, CCSP
Mr. Pazzia oversees the firm’s Cost Segregation group nationally. He is also a subject matter expert for 263(a)... | Read More
Mr. Pazzia oversees the firm’s Cost Segregation group nationally. He is also a subject matter expert for 263(a) Repairs vs. Capitalization services. Mr. Pazzia is a recognized leader in the cost segregation field serving as a former President (2013-2015 term) of the American Society of Cost Segregation Professionals and holding a seat on their Board of Directors for a decade. Additionally, he was chair of their Technical Standards committee from 2009-2013. Mr. Pazzia led the ASCSP Technical Committee to publish the first set of standards that all cost segregation reports must follow in order to be stamped by a Certified Member (MQS Report Requirements Appendix MQS 2011-1 Issued October 21, 2010). He coordinated ASCSP’s remarks on numerous issues including comments to the IRS on the newly issued “Repair Regulations” (December of 2011) and was also the lead author for ASCSP’s official commentary on the AmeriSouth XXXII., vs. Commissioner case; and the Peco Foods vs. Commissioner case. As President of ASCSP, Mr. Pazzia has assisted the Internal Revenue Service by providing feedback on amendments to the IRS Cost Segregation Audit Techniques Guide prior to public release.Close
Founder and CEO
Engineered Tax Services
He is a regular public speaker at a national level regarding cost segregation studies. His firm works on a number of... | Read More
He is a regular public speaker at a national level regarding cost segregation studies. His firm works on a number of engineering, architecture and accounting engagements.Close
Duffy + Duffy Cost Segregation Services
He has performed engineering-based cost segregation studies nationwide since 2002 after working in the construction... | Read More
He has performed engineering-based cost segregation studies nationwide since 2002 after working in the construction industry and tax law. He writes and speaks frequently on cost segregation topics.Close