Cost Seg Building

A Blog About Tax Savings for Building Owners

Tag: Spartanburg

Cost Segregation Greenville, Spartanburg, Anderson, SC

April 4, 2024 /
Photo Credit: John Murphy, Cost Seg Building

Looking for cost segregation services here in the Upstate of South Carolina? I’m happy to help. While I work all over the U.S. and can work in all 50 states, I happen to live right here in Greenville, SC.

I represent CSSI, LLC and we offer several services to help building owners and tax firms:

  • cost segregation studies – engineering-based
  • partial asset disposition studies
  • 179D tax deduction – energy savings
  • Research & Development Credits
  • 3115s – we can draft as well as sign off on these forms when needed

CSSI, LLC has been in business for more than 20 years and we have completed about 50,000 engineering-based cost segregation studies saving our building owner clients a massive amount of money on their income taxes.

We are also a key provider of these services for hundreds of tax firms and advisors across the country.

Feel free to connect with me if you’d like to talk – 864-276-1448…or connect with me on LinkedIn or Twitter @costsegbuilding.

Benefits of Cost Segregation for Flex Buildings in Spartanburg, SC

October 7, 2023 /
New Flex Industrial Space – Spartanburg, SC

Nearly every week I’ll get asked the question if a particular building would be worth studying. My comment is generally they are all worth studying. Would it be worth it if the fee were $15-$20k? No. But under $5k for a lot of these buildings…all day long. What if you could accelerate or depreciate 10-20% of your building’s cost in the first year? (Each building will vary).

Here’s a brand new development by Jordan Skellie, CCIM with Lee and Associates in Greenville, SC. This is an excellent brand new flex building located in Spartanburg, SC. These kinds of small industrial spaces are in high demand. In other parts of the country they might call these Contractor Garages. This building is within about 3 minutes of entering and exiting the all important I-85 that runs between Atlanta and Charlotte and goes right through Greenville and Spartanburg in the Upstate of South Carolina.

Jordan still has some some available as he just got the Certificate of Occupancy. Reach out to Jordan Skellie if you’re interested in the space.

 

Upstate Shines: Spartanburg and Greenville-Anderson-Mauldin take Top Honors in Site Selection Magazine’s Top Metros of 2022

March 13, 2023 /

The Upstate of South Carolina continues to be a top area in the U.S. for site selection for companies not only in the U.S. but around the world. Greenville, Mauldin, Anderson and Spartanburg continue to be at the top of the list for many companies. It’s a great area to live and do business and the location in between Charlotte (1.5 hours) and Atlanta ( about 2.5 hours) away make it a great location especially for transportation. On top of that, it’s a beautiful area. Check out what the Upstate SC Alliance had to say on LinkedIn.

Kansas City Based NorthPoint Development Plans Massive Industrial Park in Spartanburg, SC

November 29, 2022 /
Photo: NorthPoint Development / Upstate Business Journal

Money continues to flow into the Upstate of South Carolina as more companies and developers realize the value of having facilities here.

NorthPoint Development recently purchased 310 acres and plans to build a large industrial park in Spartanburg County called Spartan Enterprise Park.

More information about their development can be found in the Upstate Business Journal article. The developer is quoted, “NorthPoint Development is excited about the opportunity to bring our expertise to one of the fastest growing industrial markets in the country,” said NorthPoint Development Director of Industrial Leasing Nathan Brinker. “We have identified the Upstate as a prime market for investment due to its central location in the Southeast offering access to a large percentage of the population, connectivity to major regional transportation corridors and efficient delivery of goods via the state’s expanding inland and seaport network. Our assessments of this market show a rapidly growing population and corresponding favorable labor dynamics which companies look to when making expansion or relocation decisions. We look forward to working with local and regional economic development entities as well as the Colliers team to find the right tenants and bring new corporate investment to the Upstate.”

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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