Cost segregation for taxes

[Derek Bell]

Has anyone done a cost segregation for a tax year?

I will have a 750k+ tax bill from a warehouse I sold and from one of my businesses I sold this year. I have not looked too much into a cost segregation, but I am wondering if my current properties could help on this tax burden I have coming up. I have three properties totaling around 8.5 mil. 

[Henry Clark]

If you’re playing with these type of numbers asking this question on December 13th you need a new team.   

Talk with your tax accountant.  This conversation should have occurred when he told you your tax liability.  

If your sales occur earlier in the year you should have made tax payments then, or you have a penalty coming due also. 

The assets you still have.   When did you buy them or did they go into operations?  
How long have they been depreciated?  When do you plan to file your tax return.  Finding a specialist and having a study done will be far into next year. You will need to file an extension but still make payments to avoid more penalties.  You will need to file a change in accounting practice.  Your putting a bullseye on your tax return. 

You have the cash available.   Pay the taxes.  Have your tax preparer file for an extension. Then get your ducks in order. 

Then change your team and change your business model.