Submitted by Allison Nuovo, Senior Business Consultant, Stryde-GMG Savings
As a commercial property owner you need to be aware that tax code changes have left you with a very small window of time over the next two weeks to get a property benefit. A cost segregation filed with your 2017 taxes is worth 40% more than one filed next year. The value of your depreciation as a whole just took a huge hit with this tax change, and this is the last year you’re allowed to do a “catch up” and reclaim all that money. Most buildings were done during years where tax rates were at their highest, and depreciated things under the assumption that you’d get those deductions “over time”. Now, due to the tax changes you still get some of your money, but it’s at 21% instead of 35% (therefore, your overall deduction is worth 40% less next year than it is this year). You still have time to get your benefit however, you need to act fast. In order to meet this timeline demand we’ve created an online solution for you to check and initiate your pending benefit.
CALCULATE YOUR TAX BENEFIT NOW –
Allison Nuovo is a Senior Business Consultant with Stryde-GMG Savings. Stryde-GMG Savings is the nation’s leading full-service stimulus consulting firm specializing in local, state and federal incentives. She can be reached at 781-820-5396 or email ANuovo@GMGSavings.com