The Importance of Cost Segregation as Audit Risk Rises
This article explains that President Biden has created the Inflation Reduction Act, in which the IRS has been granted $78 billion to hire 87,000 new employees from now until 2031. Real estate clients may now be looking to perform a cost segregation study so that there are no red flags in the tax returns. It is important to find a quality cost segregation firm that will “utilize a detailed engineering approach based on actual cost records in addition to an itemized cost estimate approach.” For more information on what to expect from a quality cost segregation firm, and when the appropriate time to have a cost segregation study done is, click the link!
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