All Forum Posts by: Julio Gonzalez

Great conversation topic here!

Thank you, @Stevan Franeta! Cost segregation definitely has a lot of benefits.

A cost segregation study is a great way to reduce your taxes, but remember, not every cost segregation study is the same.

When considering different cost segregation firms do your Circular 230 Due Diligence and ask:

- Does the firm have engineering licenses with the State Authorities, proper licenses overall, and proper insurance?
- Has the firm been in business for a while? 
- Do they include energy tax benefits within their study?
- Do they include insurance and property tax reduction reports in their study?
- What is their reputation with the IRS? 
- Will they defend my report in an IRS audit?
- Do they provide a Perpetual Cost Segregation Evergreen Annual Review to find annual expenses from dispositions, additions, favorable changes in tax laws while also using the changes to drive lower insurance and property tax premium?

What questions do you ask when looking for a reputable source for cost segregation studies? 

Here’s a very brief summary of a few things it includes: 

- Stimulus checks worth up to $1,400 per person. There are restrictions based on how much you make.

- Unemployment assistance - A $300 federal increase to weekly jobless payments and extending two key pandemic unemployment benefits programs until 9/6.

- State and local aid: The legislation provides $350 billion to states, local governments, territories and tribes.

- Tax credits: The bill increases the child tax credit from $2,000 to $3,600 for each child under 6 and $3,000 for each child under age 18.

That’s just a start.

It’s not law yet though.

How is everyone else handling all of these changes and tax updates? Are you meeting with your CPAs more frequently? 

I'm happy to answer any questions about cost seg as well! feel free to post them here! 

Lots of great opportunities with 5G! What questions do you all have in regards to it? I'm happy to answer any questions. 

I'm curious how many of you are utilizing 5G!

I'm happy to walk through any cost seg opportunities if anyone needs it! 

Absolutely there are some advantages to doing a cost seg now. Well said, Tyler!

Hi Isiah, are you still looking for a CPA? I would be happy to see what CPAs we work with in Kansas City.