What do you need to consider before a cost segregation study, and what should you do once you have a study in hand? This unique webinar will take a look at what happens “behind the scenes,” both before and after a cost segregation study is performed. We’ll begin by exploring the thought process employed when considering a cost segregation study. We’ll discuss a number of scenarios including QIP timing, project renovations, 1031 exchanges, 754 step-ups, and more, to determine their impact on a potential cost segregation study. Then we’ll pivot to the post-study period, and discuss how to fully leverage the study. We’ll review how to read your report -- to make sure no important information is overlooked – and address
how to get the most of your study, both now and in future.
• Explain the utility of cost segregation throughout the real estate life cycle.
• Recognize what assets are – and are not -- eligible for QIP treatment.
• Understand how 754 step-ups and 1031 exchanges impact potential cost segregation studies.
• Understand the concept of recapture in relation to a cost segregation study.
• Use a flowchart to understand depreciation decisions for tax-exempt property.
• Explain how to read and implement a cost segregation report.
Before Performing a CSS, Consider:
– Real Estate Life Cycle
– QIP Timing and “Can Everything Be QIP?”
– Renovations and PAD Elections
– 754 Step-Ups
– 1031 Exchanges
– Non-Profit Possibilities
– 3115 vs. Amending Reports
After Performing a CSS, Consider:
– How to Read Your Report
– How to Implement Your Report – both now and later
– The Shelf Life of Your Report
Recommended CPE: 2.0 Credit
Program Level: Intermediate/Advanced
Prerequisites: General Background in Accounting, Depreciation and Cost Segregation
Advanced Preparation: None
Field of Study: Taxes