Our tax expertise gives us a deep understanding of cost segregation, while our in-house engineers and construction analysts help us understand the intricacies of building and property ownership—and the opportunities available.
We’ve assembled an elite team of cost segregation specialists. It’s what they do best. That means we never have to outsource any part of our work for you and can guarantee quality and delivery dates.
We’re not into loopholes, accounting tricks, or gray areas. We take a proven, legal path to tax savings, ensuring that all our research is complete, our numbers accurate, and our paperwork in place. We do everything necessary to create a firm foundation for financial savings and success.
Step 1: Obtain and review a schedule summarizing the general contractor’s construction costs and the owners’ costs, the contractors’ pay requests, copies of change orders and dollar amounts associated with each item and copies of all invoices paid by the owner to subcontractors and vendors other than the general contractor
Step 2: Analyze and reconcile project-related cost information to the owners’ general ledger and fixed asset accounting records
Step 3: Review the site work, architectural, structural, mechanical, electrical, and constrction blueprints along with equipment layout drawings to develop a thorough understanding of the construction project.
Step 4: Conduct an on-site visit and inspection of the facility to identify and reconcile our review of the blueprints.
Step 5: Perform our cost engineering/estimating takeoffs from the blueprints.
Step 6: Allocate the general contractor’s indirect project costs to each estimated takeoff. Next, the owner’s indirect costs are allocated to each estimated take-off.
Step 7: Reclassify each individual takeoff into the proper asset classiciation according to Rev. Proc. 87-56 for federal and state income tax purposes.
Step 8: Produce a fully documented report.
Oxford Commercial Property Consultants provides proposals at no cost, so a building owner may objectively evaluate potential benefits. Do not assume that your CPA has performed a cost segregation study in conjunction with the filing of your annual tax returns or that it’s too late to file one for your existing building.
Ask your CPA if an analysis has been performed on your property. If not, discuss getting a cost segregation specialist involved on your team.
