Educational and Conversational site to share knowledge of Tax Savings through cost segregation
Saturday, December 31, 2011
2012 - the year to get YOURs!!
BREAKING NEWS... Tax Savings and potential REFUND for Business Owners
Carryback NOL and GO Forward Lower Taxes
Cost Segregation Advisor, LLC provides a service that each and every person that OWN a commercial building or LEASE a space and have done tenant improvements should "CONSIDER"
This is such Good News, that we had to tell you again how you could get a Refund and Reduce Taxes going forward on another BLOG post on http://BLOG.costsegadvisor.com .
There are Tax Savings that you may be allowing the government to hold that are "rightfully" yours.
And with recent legislation (Rev Proc 2009-52) in regards to how a Net Operating Loss (NOL) can be treated, you may have a tax REFUND for you in addition to lower taxes going forward.
This new ruling allows taxpayers to elect a 3, 4, or 5-year net operating loss (NOL) carryback instead of a normally 2-year carryback.
The election applies to an applicable NOL, which is an NOL for a taxable year ending after December 31, 2007, and beginning before January 1, 2011.
The revenue procedure tells taxpayers the time and manner for making the election if the taxpayer (1) has not claimed a deduction for an applicable NOL; (2) previously claimed a deduction for an applicable NOL; or (3) previously filed an election to forgo the NOL carryback.
If eligible, an owner request a refund by using either Form 1045 ( Application for Tentative Refund) or Form 1139 ( Corporation Application for Tentative Refund) or Form (normally refunds are issued with 45 days).
For more details see link to IRS document ( http://www.irs.gov/pub/irs-drop/rp-09-52.pdf )
YOU MAY ASK:
Question: What does this have to do with Cost Segregation?
Answer: Well cost segregation provides missing and accelerated depreciation. Accelerated depreciation simply LOWERS your taxable income. By Lowering your taxable income you KEEP more money and do not give it to the government!
You also benefit because cost segregation goes back to time of acquisition and identifies any depreciation you "should" have taken and make them available THIS YEAR! That lowered income in addition to the NOL carryback can mean more money in your pocket.
NOTE: always consult your Accountant, CPA or Financial Adviser for Tax Advice and strategy, but know that these weapons are available to you to come out on the winning side of things.
But make sure you have that adviser include us ( Cost Segregation Advisor ), as we will act as that weapon in the area of cost segregation...because we will know more on this topic than most.
Our added value includes a FREE analysis of your property and tell you UPFRONT the expected tax savings along with a ROI that should truly impress.
No Cost. No Obligation. No Games.
WHICH PROPERTIES QUALIFY:
Hotels, Restaurants, Night Clubs, Office Buildings, Apartment Complexes, Assisted Living, Skating Rinks, Movie Theaters, Music Studios, Theme Parks, Marina, Shopping Centers, Retail Malls, Medical Facilities, Auto Dealerships, Self Storage, Assisted Living, Manufacturing, Warehouse, Industrial, andmuch much more
WHICH OWNERS QUALIFIES:
Current Own, New Construction, Recently Acquired,Leasehold Tenant Improvements (TI), Renovations, 1031 Exchange, Step-Up in Basis.
Cost Segregation Advisor (CSA) created to EDUCATE, INFORM and SERVICE commercial property owners about a IRS sanctioned process - on books since 1997 - which can help them INCREASE cash flow by REDUCING their tax liability.
Potentially HUNDREDS OF THOUSANDS OF DOLLARS!!