If you own commercial real estate in the Charlotte, NC metro and if you haven’t done a cost segregation study for tax savings, please feel free to reach out and give me a call. I’m based out of Greenville, SC just 90 minutes away. I can work anywhere in the U.S.
Recently we studied this new construction building that is Aspen Dental and Clear Choice Dental Implant Center. These kinds of retail buildings perform very well with cost segregation because they are often built out quite nicely with internal finishes many of which are considered 5 year class life. Also since this was a new developed parcel, given the requirements for parking, the 15 year class life property also is typically quite large and benefits the owners.
As I write this, Congress has not yet officially passed the bill that would allow bonus depreciation to go back to 100%. As things stand today, any properties placed into service in 2023 get 80% bonus depreciation and those placed in-service in 2024 get 60% bonus. That means for all class life property identified as 20 years or less, the owners can take 60% of that cost as a depreciation expense.
John Murphy, CSSI, LLC 864-276-1448 / john.murphy@costsegregationservices.com