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Besting Uncle Sam: Tax Techniques That Can Save Thousands

Besting Uncle Sam: Tax Techniques That Can Save Thousands. Michael Rowan, Western Regional Director, Cost Segregation Partners. FEBRUARY 5, 2013 Cash imbedded in your Course & Clubhouse Mike Rowan Western Regional Director. John W. Hanning Manager. Depreciation – What is it?.

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Besting Uncle Sam: Tax Techniques That Can Save Thousands

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  1. Besting Uncle Sam: Tax Techniques That Can Save Thousands Michael Rowan, Western Regional Director, Cost Segregation Partners

  2. FEBRUARY 5, 2013Cash imbedded in your Course & Clubhouse Mike RowanWestern Regional Director John W. HanningManager

  3. Depreciation – What is it? Depreciation is a reasonable allowance for the exhaustion, wear and tear, and obsolescence on certain types of property used in a trade or business or for the production of income (IRC Sec. 167(a)) Concept – An assets value diminishes over time for which an allocable tax deduction is allowed.

  4. Cost Segregation – Improve Your Cash Flow • Cost Segregation is the process of determining property costs and components to calculate depreciation values for federal income tax. • It works as a tax deferral tool by allowing property owners to accelerate the annual depreciation rate of their properties. • Cost segregation can reduce a property owner's federal income tax by increasing annual property depreciation values.

  5. Cost Segregation – Does This Apply To Me? • Is my golf course a good candidate? • CSP, LLC will complete a free Benchmark analysis in 48 hours • Are you paying taxes? • A cost segregation study increases tax deductions • When did you place the assets in service? • A cost segregation project can be completed back to 1987

  6. Cost Segregation – Case Study 39 15 7 5

  7. Cost Segregation – Case Study

  8. What Qualifies as Short Life Property? If you have not broken out short life assets you could be leaving money on the table. Personal “Short Life” Property • Greens • Tees • Bunkers • Cart Paths • Irrigation Systems • Drainage Systems • Restaurant Equipment • Pools & Tennis Courts • Specialized Cart Storage • Golf Range Amenities

  9. Questions John W. Hanning716.332.2653 john.hanning@costsegregationpartners.com Mike Rowan 714.308.7808 michael.rowan@costsegregationpartners.us

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