New Laws - New Savings For Golf Course Owners
Indiana House Bill 1447 and Cost Segregation
Due to a lesser known piece of recent legislation, INDIANA GOLF COURSE OWNERS are entitled to unique tax reductions under the law. This may result in thousands of dollars of incredible savings for you and cash flow increase NOW.
In today’s economy, we face increased assessment and ever changing legislation. That is why it is important to recognize the most effective reductions and greatest return for golf course property owners.
This could mean incredible savings for your Golf Course. We are also one of the few Cost Segregation Specialists in the country with an accomplished and experienced staff dedicated to cost segregation analysis.
Our experts are trained and licensed not only in accounting and finance but also in engineering, architecture, construction and valuation: the only specialists authorized to perform the study. This allows us to identify and segregate personal property assets from real structural building costs.
What this means is a gateway to great savings through classifying costs, depreciation deductions and income tax reduction, all under IRS guidelines. It means our experts must know the legal framework of classifying golf course properties.
We are members of the Indiana Golf Course Owners Association, the specific group who will benefit from this new legislation. Through an engineering approach, our licensed and trained staff are prepared for extensive research and completion of the most in-depth study in the industry.
Across Indiana and nationwide...
Our staff encompasses experts who know the country and the trends in over-assessed properties and are willing to efficiently organize the process that saves you money.
Our team of engineering, construction and valuation specialists will also work closely with your contractor to classify assets for depreciation savings and that includes assets in acquisition costs, building materials or other internalized costs. This detailed analysis studies blueprints and inspections, cost records and estimates plus all other pertinent data necessary for a thorough report.
There may be savings recaptured from hidden deductions. Although seldom employed, cost segregation is a viable and legal means to help Commercial and Industrial property owners and especially Golf Course Owners.
One Indiana Golf Course Owner stated that he saved almost $50,000 on two tax years.
Here's how it works.
The cost segregation professional identifies which components of your property can be assigned tax periods of five, seven or fifteen years rather than the standard 27.5 or 39 years. Savings drop straight down to the lowest line. Although every property is different, there are several re-classifications that lead to savings. Only a specialist who knows the property components can complete the analysis. It is especially true for developers who choose to plan directly with cost segregation specialists during initial stages of a project and who want money in their pockets today rather than years later.
Our specialists offer a free estimate with a visit to your property or a consultation with you. This general value allows you to see the possibilities of increasing your cash flow.
When the property owner sees the savings, we discuss our fee and schedule the onsite visit with our engineer, tax consultants, appraisers and our other certified and licensed specialists. We gather all of the data and prepare the most in-depth report in the industry. Our documentation is unsurpassed. Then we utilize the report to complete the IRS form 3115 so you can realize your savings immediately!
