The IRS offers several methods of treating Fixed Assets, with regard to accurately and correctly removing them from your books when you complete an upgrade. We can provide you with the information needed to make smart and strategic decisions about how to take advantage of these tax saving opportunities.
Besides the 179D (EPACT Program), other opportunities include:
Partial Asset Disposition Analysis
This analysis allows taxpayers to dispose of the remaining cost basis of assets previously retired. This program allows us to determine if a particular capital upgrade (lighting retrofit, for example) has left assets stranded that can be captured and provide tax benefits to your organization.
Cost Segregation Studies
A Cost Segregation Study can aid building owners in utilizing accelerated depreciation to achieve significant tax savings. Depending on the situation, there are several types of studies that can be utilized to provide the taxpayer the documentation necessary to take full advantage of this tax saving opportunity.
The first step is allowing us to review your full depreciation schedule. With that information, we can determine what the best strategy is moving forward and provide you with projected benefits so you can make an informed decision.