2023 marked the phased reduction of real estate bonus depreciation, making cost segregation studies even more critical for maximizing tax savings. By breaking down property purchases into specific assets like equipment, HVAC systems, and office furniture, businesses can accelerate depreciation and improve cash flow. Instead of depreciating everything over 39 years, cost segregation allows you to claim deductions faster, putting more money back in your pocket. Need help navigating these changes? Call Dr. Friday at 615-367-0819 today!
Transcript:
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
2023 kind of marked the beginning of the gradual decrease of real estate bonus depreciation. Why is that important? Because cost segregation studies were starting to really kind of kick in. What I’m talking about is, let’s say you go in and you buy a business, and it’s all inclusive. There’s equipment, there’s heating and air conditioning, there’s office desks, there’s computers. Everything is in there. What would happen in the past a lot of times, people would just kind of lump it all in, call it one thing, depreciate over 39 years. With a cost segregation, we can drill down to the equipment that may be accelerated faster and you get more money in your pocket. If you need help with this, 615-367-0819.
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