All Forum Posts by: Malik Javed

You're definitely in the right place.  Begin by having a conversation with your accountant first about 1031 exchanges.  And there are many of us here with different insights on different topics.  Feel free to reach out if I can help you answer any of your questions. 

Cost Segregation is a great tax planning tool. I definitely recommend that you seek out a Certified Cost Segregation Professional so that you are confident in the quality of the work performed and the deliverables produced. Here are some key criteria for evaluating a Cost Segregation provider:

- Seek out a Certified Cost Segregation Professional

- Consider their experience with tangible property regulations. Will they be prepared to address retirements and disposition? Repairs vs. capital expenditures.

- Find out how long the provider has been doing cost segregation studies and how many they have performed

- Consider the resources available to the provider. Are they a nationwide firm? Do they have the necessary resources to stay on top of all the tax issues such as 1031 exchanges, 754 Step-Ups, etc.

Feel free to send me a private message if you have any questions here.

A couple articles you can read that will be helpful:

https://www.biggerpockets.com/forums/51/topics/1206189-cost-...

https://www.biggerpockets.com/forums/51/topics/1204912-how-t...

Cost Segregation is a great tax planning tool. I definitely recommend that you seek out a Certified Cost Segregation Professional so that you are confident in the quality of the work performed and the deliverables produced. Here are some key criteria for evaluating a Cost Segregation provider:

- Seek out a Certified Cost Segregation Professional

- Consider their experience with tangible property regulations. Will they be prepared to address retirements and disposition? Repairs vs. capital expenditures.

- Find out how long the provider has been doing cost segregation studies and how many they have performed

- Consider the resources available to the provider. Are they a nationwide firm? Do they have the necessary resources to stay on top of all the tax issues such as 1031 exchanges, 754 Step-Ups, etc.

Feel free to send me a private message if you have any questions here.

A couple articles you can read that will be helpful:

https://www.biggerpockets.com/forums/51/topics/1206189-cost-...

https://www.biggerpockets.com/forums/51/topics/1204912-how-t...

Thank you @Costin I.

@Bob Dole - When considering a Cost Segregation study, here are a few things to consider:

https://www.biggerpockets.com/forums/51/topics/1206189-cost-...

Feel free to reach out with questions!

There’s definitely a short-tax year here for the building basis. Bonus depreciation isn’t prorated due to the short-tax year. However, the personal property assets such as 5 and 15-year may be using the “mid-quarter” convention instead of the normal half-year convention.

Don't forget, STR's have a depreciable life of 39-years instead of 27.5-years.

@Sandeep K Mamidi - Welcome to one of the most insightful group of people around! 

@Bradley Hendrix   We're a nationwide firm.  When considering a Cost Segregation study, here are a few things to consider:

https://www.biggerpockets.com/forums/51/topics/1206189-cost-...

Feel free to reach out with questions!

@Joshua Wei For SFH check out our RCS software.

When considering a Cost Segregation study, here are a few things to consider:

https://www.biggerpockets.com/forums/51/topics/1206189-cost-...

Feel free to reach out with questions!

Some companies also offer DIY cost segregation options, which can be much cheaper. Just be sure you fully understand the process to avoid any mistakes.

When picking a firm, make sure to go with a reputable one. A great place to start is www.ascsp.org, where you can find certified companies.

Also, check out the credentials of the person doing the study. Look for the Certified Cost Segregation Professional (CCSP) designation, which means they’re certified by the American Society of Cost Segregation Professionals. You’d want someone as trustworthy as a CPA for your taxes!

https://www.biggerpockets.com/forums/51/topics/1206189-cost-...

Feel free to reach out if you have any questions!

@Bob Dole - sounds like you've got great insights from many of us here. You're definitely at the right place.

Here is a brief overview on cost segregation:

https://www.biggerpockets.com/forums/51/topics/1206189-cost-...