A cost segregation study provides an in-depth, engineering based analysis of the costs associated with the acquisition, construction, or renovation of a building. A properly done study results in additional depreciation deductions and can help to:
- Accelerate depreciation
- Increase current tax deductions
- Defer income tax
- Increase cash flow
Even if you purchased, constructed, or expanded the building in a prior year, a cost segregation study and a simply change in accounting method can allow you to currently claim the depreciation deductions you failed to claim in prior years without having to amend prior-year tax returns.
Teams have the right combination of engineering skills, construction knowledge, and income tax expertise to deliver an independent, third-party report that maximizes depreciation benefits and provides fully documented support in case of an IRS audit.
Square Footage Study for Health Care Providers
A well-documented and precise square foot calculation by cost center for Medicare cost reporting purposes will result in accurate depreciation allocations and, ultimately, could enhance reimbursement.
Our goal when providing a Square Footage Study is to:
- Accurately define square footage calculations by cost center.
- Provide a detailed and well-substantiated report that is designed and written to meet the highest standard set down by the American Hospital Association.
- Deliver our report in a timely manner.
If you're looking for another way to introduce additional funds into your facility, consider a Square Footage Study. Contact us today and we'll walk you through the steps we will take.
Craig R. Tobin
Craig coordinates the strategic direction and oversees the delivery of cost segregation and related service offerings for Wipfli. He spends the majority of his time assisting clients with the proper classification of assets for tax advantages and improved cash flow. Craig has over 35 years of experience in the appraisal of complex industrial, commercial, and special-purpose real estate for purchase, sale, ad valorem tax, allocation, financing (FIRREA), insurance, Section 179D, and Section 1245/1250 cost segregation.