What are some examples of Personal Property that would get re-classified?
Personal Property comprises a significant portion of any property’s construction. Here are some examples: Millwork Decorative Items Land Improvements Special Piping/Plumbing Special Electrical Emergency Lighting Site Utilities Site Lighting Concrete Drains Special Structures Signage Window Coverings Demountable Partitions Paving/Sidewalks Carpet/Vinyl/Tile Security System Fume Exhaust System Vinyl Wall-Coverings Telephone/Data/TV Wiring Intercom System Why hasn’t my accountant told me about this? Most non-big four CPA firms don’t have experienced cost segregation engineers on staff to physically inspect the property, examine architectural/engineering drawings and analyze cost data. Accountants may be able to capture some of the deductions, but without engineering expertise they are likely to overlook substantial portions of a building to achieve tax savings. Cost Segregation historically was the domain of the “Big-4” accounting firms, serving BIG Business…charging BIG FEE’s. That the
