Owners of commercial real estate and residential rental properties are improving cash flow and finding immediate tax savings from their business properties. They are finding these benefits from an unexpected source: the Internal Revenue Service. They are taking advantage of the significant tax benefits from accelerated depreciation deductions for commercial properties supported by more than 200 court cases, treasury regulations and IRS revenue rulings. Property owners typically depreciate their building construction, renovation or acquisition costs over 39 years (commercial property) or 27.5 years (residential rental property). Brent Ross & Associates cost segregation studies are the IRS-sanctioned techniques allowing commercial property owners to accelerate depreciation on their facilities to 5, 7 and 15 year schedules. According to the IRS guidelines, a properly performed cost segregation study is based on a detailed engineering analysis. The analysis involves a thorough review of engineering and architectural documents, cost data, AIA Documents, as well as an on-site inspection of the property. These studies allow property owners to get the most out of their facility and maximize the tax benefits available to increase cash flow. Check out the IRS's Audit Technique Guide to Cost Segregation Studies - we meet or exceed IRS guidelines when we prepare a study maximizing the tax benefit for the property owner.
"A very Uncommon CPA firm. Brent Ross and his team are extremely helpful and not only care about counting beans, they care about teaching their clients how to plant and grow the beans! They have unique ways of finding... read more
"I have known Brent and his family for over thirty years and have always had the highest respect for him as a friend, as a Christian, and as our accounting and business consulting partner..." read more
"Brent and his staff have provided excellent services in a timely manner for many years. The Firm is one of knowledge, experience, and integrity." read more
"I have retained the services of Brent and his team for many years. I have found them to be honest, reliable, on top of current law change, and communicate well with me. They have always..." read more
"John and Brent were extremely helpful throughout the start-up and growth phases of the business. They provided timely, clear and useful advice regarding appropriate accounting and tax issues. They took the initiative to..." read more
"Brent Ross and his associates have one of the top CPA firms in Jacksonville. They take the time to understand your business so you can maximize your business. Moreover they bring..." read more
"We had a complicated return of 2 states and 3 jobs and he made the process a breeze. Brent and his staff worked together to help make sure we were ready by our target date..." read more
"Brent is a professional at heart that truly tries to understand the issues you face. He then tries to understand how he can help you, not only from an accounting/tax benefit, but how to..." read more
"Brent has provided outstanding accounting services for me personally and for some small corporations. His ability to track the details from year to year is amazing..." read more
"Brent and his firm have always been accessible, dependable, timely and creative when needed. His insight regarding a company's operations goes beyond crunching numbers..." read more
"Brent Ross is a powerful business coach. His coaching skill and financial expertise are the perfect combination for any business owner..." read more
"Over many years, Brent's firm has represented several of my clients (Disclosure-I am Brent's brother and a practicing attorney), and those clients and myself have found the personnel in Brent's firm to be very knowledgeable..." read more
"I have know Brent for a while now. He does more than just your taxes. He is a true advisor that help business owners unlock more profit in their operations..." read more
"Brent and his team don’t just "crunch numbers”. He provides a variety of services to help their clients improve their businesses. Brent’s cost segregation studies can generate an immediate increase..." read more
"It is without a single reservation that I recommend Brent Ross. I have worked with Brent and the Harrison Assessments organization for a while now ..." read more
If you find yourself on life support, who will make decisions for you? Unfortunately, it's been estimated that fewer than one in three Americans have what's called a living will or advance health care directive.
But no matter what you call it, it's important because it details how you'd like to be cared for if you wind up on life support. Do you want doctors to do everything...
Real estate investors have reason to celebrate in the upcoming tax season: The Tax Cuts and Jobs Act significantly expanded the first-year tax breaks for bonus depreciation and Section 179 deductions. But Congress may need to fix one intended change before it can benefit investors. And there are some pitfalls to consider before taking advantage of first-year depreciation breaks for real estate.