Summary

Heidi Henderson from Engineered Tax Services discusses the complexities of cost segregation studies, emphasizing the importance of quality, methodology, and supporting documentation to maximize tax benefits and ensure IRS audit readiness.

Key Topics

• Cost segregation methodology and standards
• Differences between engineering-based and basic reports
• Red flags in cost segregation studies
• Importance of detailed documentation and site visits
• Future asset disposition and ongoing benefits

Takeaways

• Cost segregation is not a commodity; quality varies significantly.
• The IRS has no formal standards for cost segregation studies.
• A detailed engineering approach provides the most support and benefit.
• Red flags include no land value, no site visit, and lack of detail.
• Choosing a licensed engineering firm ensures audit protection.

Chapters

00:00 Understanding Cost Segregation Pricing Variability

03:02 Defining Quality in Cost Segregation Studies

06:00 IRS Guidelines and Methodologies for Cost Segregation

08:52 Key Elements of a Quality Cost Segregation Study

12:11 Comparing Engineering-Based Studies to Basic Reports

15:03 Identifying Red Flags in Cost Segregation Reports

18:14 The Importance of Detailed Engineering in Cost Segregation

21:04 Understanding Partial Asset Disposition (PAD)

23:59 Evaluating Cost Segregation Providers

26:50 The Long-Term Value of Quality Cost Segregation

29:58 Questions to Ask Your Cost Segregation Provider

33:08 The Risks of Low-Cost Cost Segregation Studies

36:04 Final Thoughts on Cost Segregation

Resources
Get A Free Cost Segregation Benefit Analysis Here: https://portal.engineeredtaxservices.com/get-started?ref_id=njg2zdv
IRS Audit Technique Guidelines: https://www.irs.gov/pub/irs-pdf/p5653.pdf

Links:
LinkedIn - https://www.linkedin.com/in/heidihenderson/
Instagram - https://www.instagram.com/slashtaxwithheidi/
Facebook - https://www.facebook.com/slashtaxwithheidi/