Noblesville, Indiana, United States
www.franklintaxgroup.com -Our company provides a tax related service called cost segregation analysis. This relates to how owners of real estate, either in their business or as rental real estate, are able to depreciate the real estate for tax purposes -The standard used by most CPAs/accountants is to depreciate a building over a 39 or 271/2 year tax life, depending on whether it is non-residential or residential. -Tax law and recent court cases support cost segregation. This allows certain components of the property to be depreciated using shorter life classes, such as 5, 7 or 15 years. -Cost segregation dramitically can increase depreciation deductions, reducing taxes and increasing cash flow. -Tax law allows real estate owners to go back as far as 1987 to re-capture depreciation they could have taken in the past if property costs were properly classified. No need to amend tax returns, the entire adjustment can be taken on current year tax return -The tax savings is often at least 10 times the fee of having the work done Specialties: www.franklintaxgroup.com Franklin Tax Group has experience with various industries, including but not limited to: -Restaurants -Apartment Complexes -Outdoor and Indoor Malls -Surgery Centers -Doctor's Offices -Professional Offices -Hotels -Grocery Stores -Banks -Drug Stores -Warehouses -Maintenance Facilities
Tax practice serving the needs of individuals and small business clients. Prepare tax returns, quarterly estimates, payroll.
Specialized in cost segregation analysis for owners of real estate.