backlink free directory. site rank

TrustDIR.org » Trusted SEO Web Directory » Ethical SEO » Better Traffic » Higher Sales

 

 

 

Top Hits       Articles & Tutorials       WEB SEO Directory Statistics       Latest Websites       Suggest Article  

Article Home » Business » Real Estate



Cost Segregation - Tax Deductions

Submitted on: Thu, 30 Jan 2014 04:10:47Views: 188
By understanding business tax deductions, business owners may enjoy personal benefits from business expenditures - a nice car to drive, a combination business trip/vacation, retirement savings plan - if they follow the myriad tax rules.

The tax code allows deductions from gross income, which reduce income taxes. Increasing tax deductions reduces taxable income and income taxes. Therefore, knowing how to maximize your deductible business expenses enables you to lower taxes.

According to the IRS, trade or business expenses must be ordinary and necessary to be considered a tax deduction. Although the tax code does not specifically define “ordinary” and “necessary” tax deductions, these types of expenses are specified in various IRS publications and regulations. Some of the tax deductions business owners can claim fall under categories such as charitable contributions/donation deductions, medical and dental deductions, moving expense deductions, deducting job costs, travel and entertainment expense deductions, casualty and theft losses, depreciation and involuntary conversion deductions.

The wisdom of tax planning is to take advantage of all the benefits Uncle Sam has to offer. An increasingly popular federal tax savings phenomenon is utilizing a cost segregation study (CSS). These studies offer business owners of improved commercial real estate the opportunity to defer taxes, reduce their overall current tax burden, and free up capital by improving cash flow. A CSS study will identify any item that can be depreciated over a shorter period of time. These studies can result in accelerated depreciation deductions for properties including new buildings being constructed, renovations of existing buildings, leasehold improvements, and the purchase of real estate.

The primary goal of cost segregation is to identify building components that can be reclassified from real property to personal property. This results in a substantially shorter depreciable tax life and accelerated depreciation methods. Ordinarily, the cost of real, or section 1250, property is recovered over lengthy periods (27.5 and 39 years for residential and nonresidential property, respectively), using the straight-line method of depreciation. Personal, or section 1245, property is recovered over considerably shorter periods (5, 7 or 15 years), and employs accelerated methods of depreciation, such as 200% or 150% declining balance.

O’Connor & Associates is a national provider of commercial real estate consulting services including , cost segregation services, due diligence, renovation upgrading cost analyses, income taxes, tax return review and apartment inspections.


» Latest news on : Real Estate
» Google News for: Cost Segregation - Tax Deductions

Lates tweets about Business / Real Estate

From @RealEstate_Usa1 on Sat Jul 20 14:51:07 EDT 2019
RealEstate> 7 of the world's most incredible new buildings in.. https://t.co/DRHdqVBCYq #realestate https://t.co/ZzaPDzBdJW
From @3rdstringW on Sat Jul 20 14:51:01 EDT 2019
https://t.co/yD6hVb0lUY
From @4elvesMay on Sat Jul 20 14:50:58 EDT 2019
RT @psychdr100: As President, Trump plays games with the media like he did when fleecing the public as a real estate swindler/cheat. Nause…
From @Callahenao on Sat Jul 20 14:50:48 EDT 2019
This Month in Real Estate - July 2019 https://t.co/1BbCmN4MfA via @YouTube
From @otohp on Sat Jul 20 14:50:47 EDT 2019
RT @JessicaVdV: One of the best economic analyses of the Real Estate fiasco & its impact on the #BC economy. Turns out @bcliberals boasts…
From @PhaedraLilith on Sat Jul 20 14:50:45 EDT 2019
RT @acnewsitics: Can we all agree that electing a failed reality TV host and shady real estate developer with 6 bankruptcies, 5 kids from 3…
From @xtianruizj on Sat Jul 20 14:50:45 EDT 2019
RT @KevinMKruse: @TheOfficerTatum @realDonaldTrump Trump won the Ellis Island Award for being a successful real estate developer of German…
From @hexprax on Sat Jul 20 14:50:42 EDT 2019
RT @hexprax: Deleting all my tweets with the word "bitch" and rededicating my life to my real estate business
From @Saurabh89975025 on Sat Jul 20 14:50:34 EDT 2019
@subrata_ind @Wealth_Park @RajeevNtweet Yeah if u want to change land usage in UP , u have to pay govt fees of 100… https://t.co/4Il9Iu10WI
From @HaraRealtyTeam on Sat Jul 20 14:50:30 EDT 2019
There's no need to stress! Enlist the help of a real estate professional and you'll be well on your way to home own… https://t.co/ntcY7yEHfp
Copyright © 2008 - 2011     VIC Consulting - WEB Development, website promotion & SEO services
Autos neuves et usagées | Ottawa used cars, furniture & real estate | Toronto Business Real Estate
Follow webseodirectory on Twitter