Cost Seg Building

A Blog About Tax Savings for Building Owners

Tag: South Carolina (Page 2 of 2)

NAI Columbia Merges with NAI Earle Furman – South Carolina Commercial Real Estate

January 6, 2023 /
Photo: NAI Earle Furman’s Home Page

Two sizable commercial real estate firms have officially merged together. According to the Columbia Business Report, the two companies have been working toward this for four years. NAI Earle Furman and NAI Columbia have joined forces.

“We are excited that NAI Columbia is officially rolling into our business family,” Jon Good, CEO of NAI Earle Furman said in a news release. “This collaboration will mutually benefit both of our firms with more manpower, added support and additional resources. Together we will be able to better serve our clients throughout South Carolina and beyond.”

This sure seems to make a lot of sense especially in the world of commercial real estate where there are some very big players with large networks who serve the Upstate and Midlands area.

Cost Segregation for Spartanburg Office Building Saves Owner $89,000 in Income Taxes

September 13, 2022 /
John Murphy – Cost Segregation – Spartanburg Office Building

It’s always a good day when I can deliver our engineering-based cost segregation study to a building owner to helpl him/her save money on their taxes. Remember, what we do is reclassify a building from 39 year straight line depreciation in to 5, 15 and 39 year class lives. This allows the owner to take a bigger depreciation expense earlier in the life of his/her ownership of the building. That translates in to paying lower income taxes…and in some cases, it eliminates your income tax liability for a while.

This was a gorgeous older building in Spartanburg. It goes by the name Warrior Duck. It’s a 3 floor office building. As you can see by the image above, we saved this owner nearly $90,000 in income taxes.

As with all of my articles, I am not given tax advise. Everyone’s tax situation is different and each building performs differently. Please consult with your own tax counsel when considering cost segregation.

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